Moscow
Exchange (MOEX) has published its 2023 financial results, which included a
visible growth in trading volumes and fee income from its FX Market. Overall,
net profit amounted to RUB 60.8 billion, significantly increasing compared to
the previous year.
According
to the report, total trading volumes on MOEX’s FX Market reached RUB 328
trillion in 2023, a 22.5% increase compared to the previous year. The growth
was driven by a 31.4% rise in swap trade volumes, while spot volumes were up
7.5%.
FX Market
fee and commission income grew 30.4% year-on-year (YoY) to RUB 7.4 billion. The
exchange attributed the faster growth rate in fees compared to volumes to
shifts in the trading mix towards less profitable swap trades and the
implementation of an asymmetric tariff structure in August 2022 that favors
liquidity providers in the spot market.
Additionally,
the exchange expanded into digital asset trading, obtaining a license to
operate as an information system operator for digital financial assets. It
hosted the first primary offerings and secondary market trades of digital
assets in 2023.
MOEX Net Profit Jumps
67.5%
The FX
Market growth contributes to MOEX’s overall positive financial performance for
2023. The exchange reported a 67.5% increase in net profit to RUB 60.8 billion,
while total operating income rose 25.3% to RUB 105 billion. The
exchange posted strong growth across key financial metrics in 2023. Fee and
commission income rose 39.4% year-over-year to RUB 52.2 billion, accounting for
50% of total operating income.
Several
business lines contributed to the improved financial performance. Revenues from
financial marketplace services more than doubled, driven by the continued
expansion of the “Finuslugi” online platform. The derivatives market also saw a robust 79.2% fee income growth amid increased trading volumes in commodity
derivatives.
On the
operational side, the Moscow Exchange facilitated over 200 corporate bond issues in
2023, raising over RUB 5 trillion for issuers. The exchange also welcomed
nearly 7 million new retail investor accounts during the year, bringing the
total to 29.7 million.
The
exchange approved a new three-year strategy focused on developing the domestic
financial market, attracting retail investors, and maintaining ties with
international partners. As part of this, Moscow Exchange updated its dividend
policy to target a 100% payout ratio of free cash flows
Moscow
Exchange (MOEX) has published its 2023 financial results, which included a
visible growth in trading volumes and fee income from its FX Market. Overall,
net profit amounted to RUB 60.8 billion, significantly increasing compared to
the previous year.
According
to the report, total trading volumes on MOEX’s FX Market reached RUB 328
trillion in 2023, a 22.5% increase compared to the previous year. The growth
was driven by a 31.4% rise in swap trade volumes, while spot volumes were up
7.5%.
FX Market
fee and commission income grew 30.4% year-on-year (YoY) to RUB 7.4 billion. The
exchange attributed the faster growth rate in fees compared to volumes to
shifts in the trading mix towards less profitable swap trades and the
implementation of an asymmetric tariff structure in August 2022 that favors
liquidity providers in the spot market.
Additionally,
the exchange expanded into digital asset trading, obtaining a license to
operate as an information system operator for digital financial assets. It
hosted the first primary offerings and secondary market trades of digital
assets in 2023.
MOEX Net Profit Jumps
67.5%
The FX
Market growth contributes to MOEX’s overall positive financial performance for
2023. The exchange reported a 67.5% increase in net profit to RUB 60.8 billion,
while total operating income rose 25.3% to RUB 105 billion. The
exchange posted strong growth across key financial metrics in 2023. Fee and
commission income rose 39.4% year-over-year to RUB 52.2 billion, accounting for
50% of total operating income.
Several
business lines contributed to the improved financial performance. Revenues from
financial marketplace services more than doubled, driven by the continued
expansion of the “Finuslugi” online platform. The derivatives market also saw a robust 79.2% fee income growth amid increased trading volumes in commodity
derivatives.
On the
operational side, the Moscow Exchange facilitated over 200 corporate bond issues in
2023, raising over RUB 5 trillion for issuers. The exchange also welcomed
nearly 7 million new retail investor accounts during the year, bringing the
total to 29.7 million.
The
exchange approved a new three-year strategy focused on developing the domestic
financial market, attracting retail investors, and maintaining ties with
international partners. As part of this, Moscow Exchange updated its dividend
policy to target a 100% payout ratio of free cash flows
