Russia’s equity market turnover jumped 55% m/m and 90% y/y to RUB983bn in December, while the bond market soared 82% m/m and 133% y/y to RUB2,733bn in the same period.
Likewise, the money market added 31% m/m and jumped 51% y/y, and FX market turnover rose 20% m/m and was flat y/y. The number of derivative contracts declined 20% m/m and 11% y/y.
Notably, market participants' balance increased 7% m/m, within which the RUB balance increased 21% to RUB96bn.
In 2016 equity market turnover increased 16% y/y and the bond market added 31%. The money and FX markets expanded by 56% and 6%, respectively. The number of derivative contracts was up 18%. In total, consolidated trading volumes were 24% higher y/y in 2016. The average size of market participants' balance remained at RUB823bn (-24% y/y), including the RUB balance at RUB107bn (-20% y/y).
“The Moscow Exchange reported expectedly strong trading results for December and for FY16. The substantial RUB balance growth in December after a big drop a month ago should make a positive impression on investors and may provide a short-term boost to the stock,” Aton said in a note.