FX trading regained strong volumes at Moscow Exchange (MOEX) during December, as investors\u2019 interest roared back from the depths of the Covid-19 volatility, according to a monthly report from Russia\u2019s largest institutional trading venue.<\/p>\n
Today, MOEX said its total FX market turnover jumped 15 percent from a month earlier.<\/p>\n
MOEX\u2019s figure for December posted RUB 31.3 trillion ($424 billion) from the RUB 27.3 trillion ($362 billion), which exchanged hands in\u00a0November 2020. This is also higher compared with volumes from the same month a year earlier, having gained 33 percent when weighed against RUB 23.5 trillion in December 2019.<\/p>\n
December 2020\u2019s turnover included spot trades of RUB 10.3 trillion ($139 billion). This surpassed the RUB 9.4 trillion ($124 billion) in the previous month, while swap trades and forwards totaled RUB 21.0 trillion ($285 billion).<\/p>\n
In terms of the average daily volumes in December 2020, the metric printed RUB 1.424 trillion ($19.33 billion), up form RUB 1.357 trillion ($17.5 billion) in the prior month, Moex said in a statement. Additionally, year-on-year, the ADV figure was up 27 percent from RUB 1.117 trillion or $17.7 billion in 2019.<\/p>\n
Investors\u2019 interest in OTC derivatives trading at Moscow Exchange (MOEX) continued its upward route in 2020 buoyed by a steady rise in volatility. This was coupled with a multi-year effort to bring new business to the platform.<\/p>\n
The exchange has recently unveiled a new FX algorithmic trading service in a major upgrade to its infrastructure, which comes amid Kremlin-backed efforts to\u00a0make MOEX\u00a0one of the world\u2019s leading financial hubs.<\/p>\n
By leveraging the breadth of\u00a0MOEX\u2019s liquidity network, emerging markets connections and FX expertise, these strategies could help users make their FX execution more efficient.<\/p>\n
The use of algorithmic execution tools in foreign exchange has increased significantly since March 2020 as coronavirus-led volatility drives FX traders to seek increased efficiencies in trading.<\/p>\n
Alongside other asset classes, the\u00a0FX market\u00a0has responded to the COVID-19 pandemic with worrying volatility.<\/p>\n