OREANDA-NEWS. Moscow Exchange’s turnover increased 41% YoY in February to RUB 39.2 trln.

Equities & Bonds

Turnover in stocks, RDRs, and investment fund units totalled RUB 692 bln (February 2013: RUB 669 bln). The average daily turnover was at RUB 34.6 bln. (February 2013: RUB 33.5 bln).

Secondary market turnover in corporate bonds and OFZs came to RUB 868 bln (February 2013: RUB 1,142 bln). The average daily turnover was RUB 43.4 bln.

A total of 21 new bond issues (including OFZs) with a combined value of RUB 119 bln were placed during the month.

Derivatives

Derivatives market turnover was RUB 5.3 trln (February 2013: RUB 4.1 trln), or 117.0 mln contracts (February 2013: 93.1 mln contracts), of which RUB 4.7 trln were futures and RUB 543 bln were options. Open interest was RUB 660 bln at the end of the month (January 2014: RUB 585 bln), an historical high.

The elevated volatility on the FX market, which continued in February, stimulated FX derivatives trading. The trading volume in these instruments was RUB 2 330 bln (63.36 mln contracts). Open interest in FX derivatives was up 14.6 % MoM to RUB 196 bln at the end of the month. USD/RUB futures turnover was RUB 2 013 bln (56.7 mln contracts).

EUR/RUB futures turnover was up 13.5 times YoY to RUB 153 bln (3.14 mln contracts) at the end of the month.

EUR/RUB options turnover was RUB 594 bln.

Open interest in EUR/RUB futures was up to RUB 25.6 bln at the end of the month, and in EUR/RUB options it was up to RUB 3.06 bln.

FX market

FX market turnover in February was RUB 17.8 trln (almost double February 2013”s RUB 9.1 trln), including spot trades of RUB 6.2 trln (35% of the total) and swap trades of RUB 11.5 trln (65%).

The FX market’s average daily turnover was RUB 888 bln (or USD 25 bln), which is a historical high.

The CNY/RUB pair saw a record average daily turnover of RUB 2.612 bln (CNY 449 mln).

Money market

February 2014 marked a year since the 5 February 2013 launch of repo with the Central Counterparty (CCP). This service has seen strong demand, with the volume during the year coming to RUB 6.1 trln and more than 200 participants conducting transactions.

In FEbruary the volume of repo transactions with the CCP reached a record RUB 1.4 trln. Average daily turnover was up 30% YoY to RUB 68 bln.

Money market turnover totalled RUB 14.5 trln (February 2013: RUB 12.5 trln). The average daily turnover was RUB 727 bln (February 2013: 626 bln).