FX and Commodity Trading Higher, Equities Lower During H1 2013 at the Moscow Exchange

The Moscow Exchange (MOEX) has released first half 2013 volume figures for its derivatives products. During the first half of the year, Derivatives Market average daily volumes (ADV) rose 13.9% YoY to $6.65 billion (RUB221 billion), with total registered accounts at the exchange reaching 31,012 at the end of June. Volumes were led by strong gains in FX and Commodity derivatives trading, which made up for declines in Equity Derivatives trading.

In FX, total volume was $200 billion (RUB6.5 trillion), with the most heavily traded contract being the USDRUB, which achieved a record ADV of $2.3 billion during June. Commodity volumes were led by Gold and Brent Oil instruments, where total volumes during the first month reached $10.05 billion (RUB333.6 billion) and $9.86 billion (RUB327.4 billion) respectively. The MOEX is aiming to expand Gold trading with its recent announcement that it will begin to offer spot contracts later this year. Overall Commodity volumes rose 61% YoY to $22.31 billion (RUB741 billion).

Declining, were Equity Derivatives, which experienced an 8% YoY drop in volumes. Total trading volume of index and equity derivatives was $510 billion (RUB17.08 trillion), with ADV of $4.29 billion (RUB142.4 billion).

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