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Main article: Moscow Exchange
Chronicle
2023
Profit growth by 67.5% to 60.77 billion rubles
Net profit of the Moscow Exchange in 2023 amounted to 60.77 billion rubles, which is 67.5% more than a year earlier. The press service of the site announced this on February 26, 2024.
From the materials of the Moscow Exchange, it follows that its commission income in 2023 reached 52.2 billion rubles, which is 39.4% higher than a year ago. The rise was due to high customer activity, as well as the launch of new products and services, the exchange said. The share of commission income in the structure of operating income of the Moscow Exchange in 2023 reached 50%.
Operating expenses of the Moscow Exchange in 2023 increased by 20.2% compared to 2022, to 28.7 billion rubles, due to additional accruals of reserves for the payment of bonuses and the implementation of a long-term incentive program after the revision of the remuneration system, as well as marketing expenses related to the Finservugi platform.
Commission income on the stock market increased significantly in 2023 - by 113.2%, to 6.96 billion rubles. The share market capitalization at the end of 2023 amounted to 58.1 trillion rubles. The volume of trading increased by 30.9%, to 23 trillion rubles. In 2023, eight IPOs and four SPOs were held at the Moscow Exchange, and a listing for one company was also provided.
Commission income from settlement and depository services in 2023 increased by 24.5%, to 9.72 billion rubles. The growth is primarily due to an increase in the average value of assets in storage by 19.9%. Commission revenues in the derivatives market in 2023 increased by 79.2, to 6.7 billion rubles, the press service of the site said.
According to the Moscow Exchange's own data, in 2023 7 million new private investors opened brokerage accounts, as a result of which their total number at the end of the year reached 29.7 million people.[1]
Trading volume growth by 24% to 1.3 quadrillion rubles
Trading turnover on the Moscow Exchange in 2023 increased by 24% compared to 2022 and exceeded 1.3 quadrillion rubles. The indicator became a record, the press service of the site reported on January 10, 2024.
It is clarified that record trading volumes at the end of 2023 were recorded in the money and stock markets, as well as in the bond segment. In the money market, trading volume for 2023 amounted to 837.6 trillion rubles (plus 24.5% to the level of 2022), on the stock market - 62.9 trillion (plus 69%). At the same time, in the securities market, the indicator doubled in annual terms and reached 39.9 trillion rubles.
The best dynamics in terms of trading volume in 2023 was shown by the commodity market. It grew 2.7 times compared to 2022, to 520 billion rubles. This was facilitated by the growth of the precious metals market by 3.8 times, to 470 billion rubles.. The grain and sugar market, on the contrary, decreased by 30% over the year, to 50 billion rubles.
The volume of trading in corporate, regional and state bonds amounted to 39.87 trillion rubles against 19.6 trillion rubles in 2022. The average daily volume of trading in bonds in 2023 increased from 77.6 billion to 133.3 billion rubles.
In the urgent market, trading volume at the end of 2023 increased from 77.9 trillion to 80.74 trillion rubles. The volume of trading in the foreign exchange market in 2023 amounted to 328 trillion rubles, compared to 267.8 trillion rubles in 2022. The average daily trading volume in the foreign exchange market at the end of 2023 increased from 1.06 trillion to 1.84 billion rubles.
At the end of 2023, the number of brokerage accounts opened on the Moscow Exchange increased by 10.7 million and reached 38.3 million, the site said. The number of individuals with accounts increased by 6.1 million, to 22.9 million people. Private investors took a share of 59% in the volume of trading in shares by the end of 2023, while in December 2022 the indicator was measured at 76%.[2]
2022
Net profit growth by 29.2% to 36.3 billion rubles
The net profit of the Moscow Exchange for 2022 increased by 29.2% compared to 2021 and reached 36.3 billion rubles. The trading platform released such data on March 10, 2023.
The capitalization of the share market at the Moscow Exchange by December 31, 2022 amounted to 38.4 trillion rubles ($530.1 billion). Commission income for the year decreased by 37.2% against the background of a corresponding reduction in the volume of exchange trading due to the curtailment of non-residents' operations.
Commission income in the bond market decreased by 17.6% following the reduction in trading volumes by 30.9% (excluding the placement of one-day bonds). Primary market volumes (excluding the placement of one-day bonds) decreased by 25.4% mainly due to a decrease in the placement of federal loan bonds and Bank of Russia bonds in the context of changing interest rates. Volumes in the secondary market decreased by 35.5%. The dynamics of the effective commission was due to the shift in turnover to more profitable trading modes based on the central counterparty, explained on the Moscow Exchange.
Commission income in the foreign exchange market increased by 35.1%, while trading volumes decreased by 16.8%. Spot deal volume rose 5.5% and swap transactions shrank 26.2%. The dynamics of the effective commission is due to two main factors: a shift in the trading structure to the more profitable spot segment, as well as the introduction of an updated tariff line from August 1, which contributes to improving liquidity and supports an effective commission.
Commission income in the money market decreased by 18.8%, despite an increase in trading volumes by 41.2%. The change in the effective commission is mainly due to a 38% reduction in the average terms of repo transactions. The volume of trading in repos with clearing certificates of participation increased by 58.8%, to 133 trillion rubles. The volume of repo transactions with the Central Committee increased by 22.6%. Commission income in the derivatives market decreased by 28.0% while trading volumes decreased by 50.9% following the curtailment of non-residents' operations. The discrepancy in the dynamics of commission income and trading volumes is due to a shift in the trading structure towards foreign currency derivatives, as well as a new asymmetric tariff structure launched in June 2022.[3]
Annual trading volume growth by 4.6%
The total volume of trading on the markets of the Moscow Exchange in 2022 increased by 4.6% and reached 1.1 quadrillion rubles. This is the maximum indicator in the entire history of exchange trading, the press service of the site reported on January 4, 2023.
The highest dynamics of trading volume in 2022 was demonstrated by the money market (an increase of 41.2%) and the grain and sugar market (an increase of 4.9 times, to 71.1 billion rubles). The average daily trading volume in the agricultural market in 2022 amounted to 280.9 million rubles (57.1 million rubles in 2021).
The volume of trading in corporate, regional and state bonds amounted to 19.6 trillion rubles against 22.4 trillion rubles in 2021. The average daily trading volume fell to 77.6 billion rubles from 88 billion rubles in 2021.
In 2022, the Moscow Exchange index decreased by 43.1%. The volume of trading in shares, depositary receipts and shares decreased from 30 trillion to 17.6 trillion rubles.
74% of the free float (free float) of the Russian stock market falls on "unfriendly non-residents," said Sergei Shvetsov, former first deputy chairman of the Central Bank, and now head of the supervisory board of the Moscow Exchange.
In the urgent market, trading volume at the end of 2022 fell from 158.5 trillion rubles to 77.9 trillion rubles. The average daily trading volume is 307.8 billion against 621.7 billion rubles in 2021.
The volume of trading in the foreign exchange market in 2022 amounted to 267.8 trillion rubles, while in 2021 this figure reached 322 trillion rubles. The volume of trading in spot instruments increased by 5.5%, to 100.4 trillion rubles, the volume of swap transactions and forwards amounted to 167.5 trillion rubles. The average daily volume of trading in the foreign exchange market in 2022 decreased from 1262.9 billion to 1,058,6 billion rubles.
The volume of trading in precious metals (spot and swap) amounted to 122.8 billion rubles against 209.2 billion rubles in 2021. The volume of gold trading in 2022 is estimated at 118.7 billion rubles (32.3 tons), silver - at 4.1 billion rubles (78.7 tons).[4]
Record fall in trading in October
The Moscow Exchange reported a record drop in trading volumes for October 2022. The total trading volume amounted to 71.7 trillion rubles - after 74.3 trillion in September. Trading on the stock market sank to 2 trillion rubles from 2.5 trillion in September. Shares, depositary receipts and shares accounted for 1 trillion rubles after 1.5 trillion in September.
2021
17 million individuals who opened brokerage accounts
The number of individuals who opened brokerage accounts on the Moscow Exchange reached about 17 million people in 2021, which corresponds to more than 10% of the population of the Russian Federation. They opened 27.7 million accounts. Over the year, the number of private clients on the trading floor doubled (at the end of 2020 it was 8.8 million), her press service said on January 13, 2022.
It is noted that the activity of private investors in 2021 reached the maximum level in the entire history of observations - more than 2 million people entered into transactions every month (847 thousand in 2020). Chairman of the Board of the Moscow Exchange Yuri Denisov believes that by the end of 2022 the number of unique customers of the site can reach 25 million.
In 2021, the activity of private investors accounted for 40% of the volume of trading in shares and 10.1% of the volume of trading in bonds at the Moscow Exchange. In the spot currency market, their share was 12.4%, in the derivatives market - 43.4%. Private investors invested 532 billion rubles in shares at the Moscow Exchange, and 819 billion rubles in bonds.
Private investors invested 1.35 trillion rubles in Russian securities on the Moscow Exchange in 2021. Among the three most popular Russian shares in terms of the number of shareholders among private investors registered on the Moscow Exchange since 2015 were shares of Sberbank (1.2 million people), Gazprom (979,000 people) and VTB (590,000).
At the end of 2021, the number of open individual investment accounts (IIS) is 4.9 million. In 2021, more than 1.4 million IIS were opened. Turnover on IIS accounts for 2021 - 1.6 trillion rubles, in the structure of turnover 87.4% were transactions with shares, 5.4% - with bonds, 7.2% - with exchange-traded funds.
Regions are the leaders in the number of open IIS: Moscow (527.2 thousand), Moscow region (298 thousand) and St. Petersburg (228.6 thousand). Of the other regions, the top 3 included the Sverdlovsk region (159.3 thousand accounts), the Republic of Bashkortostan (155.6 thousand accounts) and the Krasnodar Territory (144.8 thousand accounts).[5]
Total trading volume growth by 6.6% to RUB 1.01 quadrillion
The total volume of trading on the markets of the Moscow Exchange at the end of 2021 increased by 6.6% and amounted to 1.01 quadrillion rubles. The annual volume of operations in the exchange markets has crossed the mark of one quadrillion rubles. The exchange announced this on January 4, 2022
High trading volumes at the end of 2021 were recorded on the stock market - 30 trillion rubles (an increase of 25.5%), the derivatives market - 158 trillion rubles (an increase of 21.7%) - and the money market - 474 trillion rubles (an increase of 11.1%), as well as in the market for standardized derivative financial instruments (SPFI) - 2.8 trillion rubles (an increase of 4.8 times) - and the precious metals market - 209.2 billion rubles (an increase of four times).
In 2021, six IPOs and 12 SPOs were held on the Moscow Exchange for a total amount of more than 500 billion rubles (+ 96% by 2020).
In 2021, 885 bond loans totaling 12.3 trillion rubles were placed on the Moscow Exchange, including the volume of placement of one-day bonds for 3.8 trillion rubles.
The main indicator of the Russian stock market The Moscow Exchange index rose by 15.1% at the end of the year.
The volume of trading in shares, depositary receipts and shares increased by 25.5%, to 30.0 trillion rubles, which is a record figure in the entire history of exchange trading (23.9 trillion rubles in 2020). The average daily trading volume increased by 23.0%, amounting to 117.6 billion rubles (95.6 billion rubles in 2020).
The volume of trading in corporate, regional and state bonds amounted to 18.6 trillion rubles (26.2 trillion rubles in 2020). The average daily trading volume is 73.0 billion rubles (104.6 billion rubles in 2020).
The volume of trading in the derivatives market increased by 21.7% and reached 158.0 trillion rubles, which is the maximum value in the entire history of trading (129.9 trillion rubles in 2020), or 2.1 billion contracts (2.1 billion contracts in 2020). The average daily trading volume amounted to 619.6 billion rubles (519.5 billion rubles in 2020).
The volume of trading in futures contracts amounted to 2.0 billion contracts, option contracts - 54.0 million contracts.
The volume of open positions in the derivatives market at the end of the year increased by 41.5% and amounted to 793.3 billion rubles (560.5 billion rubles at the end of 2020).
The volume of trading on the SPFI market increased 4.8 times and amounted to 2,811,9 billion rubles.
The volume of trading in the foreign exchange market amounted to 319.8 trillion rubles (328.9 trillion rubles in 2020). Trading in spot instruments accounted for 95.2 trillion rubles, swap and forward transactions - 224.6 trillion rubles.
The average daily trading volume on the foreign exchange market of the Moscow Exchange amounted to 1,254,1 billion rubles, or 17.0 billion US dollars, compared to 1,315,8 billion rubles (18.2 billion US dollars) in 2020.
The volume of trading in the money market increased by 11.1% and amounted to 474.0 trillion rubles, which became an absolute record for the entire time of trading (426.8 trillion rubles in 2020). The average daily volume of operations is 1,859,0 billion rubles (1,707,1 billion rubles in 2020).
In the total volume of trading in the money market, the volume of repo transactions with the central counterparty increased by 11.1%, to a record 271.0 trillion rubles, the volume of repo transactions with clearing certificates of participation increased by 11.6%, to 83.8 trillion rubles, which is the maximum value in history.
The volume of trading in precious metals (spot and swap) quadrupled, to a record 209.2 billion rubles (52.6 billion rubles in 2020), including the volume of trading in gold - 206.8 billion rubles (48.5 tons), silver - 2.4 billion rubles (40.2 tons).
History
2023: The share of the Moscow Exchange fell below 50% of the total volume of currency trading in Russia
According to the results of the second or third quarters of 2023, more than half of the volume of foreign exchange trading in Russia falls on the OTC market, while the contribution of the foreign exchange section of the Moscow Exchange fell below 50%. This is stated in the report of the Bank of Russia, published on November 30, 2023.
The document says that the exchange currency market is characterized by a high trading volume, which in 2023 exceeds pre-crisis values. In particular, in 2021, the average monthly trading volume was 7.8 trillion rubles, and in the first 10 months of 2023 - 8.3 trillion rubles. The reduction in trading volumes in US dollars (the share of the USD/RUB pair decreased to 35% in October 2023) is offset by growing turnover in currency pairs with yuan (the share of the CNY/RUB pair reached 39% of trading volume).
 | We always monitor possible risks and work with market participants, including the Moscow Exchange, in case of possible sanctions. In general, it should be noted that, of course, the issue in terms of the Moscow Exchange is currency trading. But I wanted to say that we already have a significant part of trading in the foreign exchange market in the Russian market, more than half now fall on the OTC market, "says Elizaveta Danilova, director of the financial stability department of the Bank of Russia. |  |
Companies and the financial sector are gradually adapting to sanctions and changing cross-border settlement channels to reduce exposure to new restrictions, she said. The share of export revenue of the largest companies in "toxic" currencies decreased from 96% at the beginning of 2022 to 17% in September 2023.[6]
2020
Commission income growth by 30.9%, to 34.3 billion rubles, profit - 25.17 billion rubles
Commission income of the Moscow Exchange at the end of 2020 increased to a record 34.3 billion rubles. This is 30.9% more than a year ago. The growth was due to an increase in the volume of commissions in all markets, the group said.
Mosbirzhi's net profit in 2020 turned out to be 25.17 billion rubles, which is 24.6% more than profit in 2019. According to this indicator, the exchange returned to the level of 2016, but then the main result of the site was formed by interest income. Net interest income decreased by 15.3%, to 14.2 billion rubles, which the platform blames on a decrease in interest rates.
From the report for 2020, it also follows that the share of commission income in the structure of operating income of the exchange at the end of 2020 amounted to 71%. Operating expenses increased 8.5%, remaining within the forecast range.
Moscow Exchange noted its growing importance as the main platform for raising capital by Russian business. 170 companies, of which 48 entered the market for the first time, placed 688 bond issues worth almost 4 trillion rubles. Almost 5 million new private investors opened brokerage accounts in 2020, bringing their total to 8.8 million by the end of December.
| | Despite the pandemic, last year was very successful for the Moscow Exchange and the entire Russian capital market, "says Yuri Denisov, chairman of the group's board, whose words are quoted in the exchange's message. - Through the placement of shares and bonds on our site, Russian business attracted more than 4 trillion rubles of institutional and private investments. The increase in trading time, the launch of new instruments, including foreign shares, Eurobonds, derivatives, significantly expanded the opportunities for investors to trade on the stock exchange.[7] | |
The number of private investors rose by 5 million to a record 8.8 million
In 2020, 5 million private investors registered on the Moscow Exchange, which is more than in all previous years in total. As a result, the number of individuals with brokerage accounts on the trading platform rose to a record 8.8 million.
At the end of 2020, the volume of trading on the stock market reached a historic maximum and amounted to 23.9 trillion rubles, which is almost twice the result of 2019. At the same time, the share of private investors in the volume of trading in shares in 2020 amounted to 40.6%, in the volume of trading in bonds - 13%, in the spot market of currency - 12.3%, in the derivatives market - 42%.
At the end of 2020, the number of open individual investment accounts (IIS) reached 3.5 million. In 2020, more than 1.8 million IIS were opened. The turnover on IIS accounts exceeded 1.4 trillion rubles, in the structure of turnover 85.6% were transactions with shares, 10.1% - with bonds, 4% - with exchange-traded funds.
Regions are the leaders in the number of open IIS: Moscow (378.3 thousand), Moscow region (208.5 thousand) and St. Petersburg (158.5 thousand). Of the other regions, the top 3 included the Sverdlovsk region (115 thousand accounts), the Republic of Bashkortostan (113.3 thousand accounts) and the Krasnodar Territory (98.5 thousand accounts).
In 2020, private investors invested 301 billion rubles in shares at the Moscow Exchange. Investments in bonds amounted to 617 billion rubles. The largest share of investments in debt securities - 88.5% - fell on corporate bonds, 7.5% - on government bonds (6.5% were OFZs and 1% - regional bonds), 4% - on Eurobonds.
The "private investor portfolio" includes shares "" Gazprom(23.1%), "" Lukoil(11.8%), Norilsk Nickel"" (11.3%), ordinary and preferred shares Sberbank"" (10.5% and 8%, respectively), shares Aeroflot"" (8.2%), securities Mail.ru Group (7.4%). From foreign securities, investors chose shares (Alibaba 29.5%), (Pfizer 11.6%), (Apple 11.1%), (9.9 Tesla %), (8%), Intel (7.7%) Boeing , (7%). Amazon Almost 5[8]
Losses of traders by 1 billion rubles due to the unavailability of the exchange system to negative oil prices
The Moscow Exchange refused to revise the losses of 700 of its investors. Each of them lost from 100 thousand to 15 million rubles on contracts with American WTI oil, which traded in the negative zone (fell by minus $37.6). The total amount of losses is more than 1 billion rubles.
The exchange system on April 20, 2020 did not allow applications below $8.84, customers could not sell WTI oil. She was not prepared for negative prices, although there were warnings.
The next day, the May contract for WTI oil closed at a price of $1.5, but the Moscow Exchange refused to hold trading on April 21 and announced the contract price on the website - minus $37.6. Explaining this by caring for customers.
Hundreds of customers are going to sue the exchange, they are now required to pay millions of losses. The exchange does not want to recognize unwillingness to negative prices and spend insurance funds. Unlike Russia, in the United States, brokers incurred huge losses (from $88 million) from force majeure.
2019: Moscow Exchange records record inflow of private investors - 1.9 million
The fall in bank deposit rates, a powerful "bullish" trend in the Russian stock market and the rapid development of investment mobile applications led to a record influx of private investors to the Moscow Stock Exchange in 2019. Their number has doubled: 1.9 million people opened accounts at the Moscow Exchange in a year - now there are 3.86 million, the Vedomosti exchange reported.
The influx of investors accelerates from year to year: 645,000 people registered on the exchange in 2018, and a little more than 207,000 customers in 2017.
2018: Dividends for the year 17.5 billion rubles
The exchange remains a fairly effective enterprise even in difficult economic conditions. Since 2011, its net profit has tripled, although it has declined in the past three years. Also, the exchange continues to pay high dividends. In particular, at the end of 2018, the Supervisory Board proposes to pay 17.5 billion rubles, that is, 89% of net profit.
Notes
- ↑ Moscow Exchange increased annual net profit by 67.5%
- ↑ The Moscow Exchange summed up the trading results in December 2023
- ↑ Moscow Exchange announces financial results for 2022
- ↑ The Moscow Exchange summed up the results of trading in 2022
- ↑ investors invested 1.35 trillion rubles in Russian securities on the Moscow Exchange in 2021
- ↑ The share of the Moscow Exchange fell below 50% of the total volume of currency trading in Russia
- ↑ Moscow Exchange Announces 2020 Financial Results
- ↑ million people became investors on the Moscow Exchange in 2020
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