OREANDA-NEWS. Turnover on Moscow Exchange increased 39% YoY in January to RUB 35 bln.

Equities & Bonds

Turnover in stocks, RDRs, and investment fund units totaled RUB 699 bln (January 2013: RUB 647 bln). The average daily turnover rose 6% YoY to RUB 36.8 bln.

Share of non-residents in trading volumes reached a record 47% (against an average of 40% for 2013 and 37% for 2012).

Secondary market turnover in corporate bonds and OFZs came to RUB 686 bln (January 2013: 1,027 bln). The average daily turnover was RUB 36.1 billion.

A total of 10 new bond issues (including OFZs) with a combined value of RUB 68 bln were placed during the month.

Derivatives

Derivatives market turnover was RUB 4,027 bln (January 2013: RUB 2,828 bln) or 92.3 mln contracts (January 2013: 66.5 mln contracts), of which RUB 3,639 bln were futures and

RUB 388 bln were options. Open interest reached a record high RUB 585 bln at the end of the month.

Increased volatility on the FX markets in January resulted in a higher trading activity in FX derivatives. FX derivatives turnover amounted to RUB 1,755 bln (or 48.83 mln contracts). Open interest reached a record RUB 178 bln on 30 January (up 7.5% compared with the previous month”s pre-expiration values). Turnover in USD/RUB FX futures was RUB 1,486 bln (or 42.86 mln contracts).

Members showed increased interest in hedging instruments following a sharp fall of the ruble against the currency basket. They traded a total of RUB 206.72 bln during just one trading session on 29 January, accounting for nearly 14% of monthly turnover in USD/RUB FX futures and the highest daily turnover since 1 June 2012. Same day open interest in the contact beat a record since 5 September 2012, reaching RUB 119 bln.

Turnover in EUR/RUB FX futures was RUB 81.5 bln (or 1.72 mln contracts), up 70.5% compared to December 2013.

Turnover in EUR/RUB FX options was RUB 1.85 bln, exceeding the total turnover in the contract since its launch by 43%.

Open interest in the EUR/RUB FX futures and EUR/RUB FX options increased to RUB 13.89 bln and

RUB 2.69 bln respectively as of the end of January.

Open interest in the USD/UAH FX futures increased to RUB 39.8 mln, a twofold growth compared to December 2013.

FX Market

FX market turnover in January reached RUB 13,192 billion (January 2013: RUB 8,408 bln), of which spot trades accounted for RUB 5,583 bln (42% of the total) and swap trades RUB 7,609 bln (58%).

The FX market”s average daily turnover was RUB 694 bln.

Money Market

The volume of repo transactions with the Central Counterparty (CCP) reached a record RUB 997 bln. Average daily turnover reached a record high of RUB 52.5 bln (up 29% compared to December 2013).

A record volume in repo with the CCP of RUB 66 bln was registered on 31 January.

Money market turnover totaled RUB 16,446 bln (January 2013: RUB 12,154 bln). Average daily turnover was RUB was 866 bln.