SPB Exchange (formerly St. Petersburg Exchange)

PJSC St. Petersburg Exchange is an exchange platform for organizing trading in securities of international companies in Russia.

For 2021, the St. Petersburg Exchange group includes subsidiaries:

• NPO-Central Committee "MFC Clearing Center" (JSC) and
• Best Efforts Bank PJSC.

Performance indicators

2023: Reduction of losses by 4 times to 446.1 million rubles

In 2023, the total net loss of St. Petersburg Exchange under RAS amounted to 446.1 million rubles, while a year earlier these cash losses were measured at 1.73 billion rubles. Compared to the first half of 2023, the indicator decreased by 82.6 million rubles due to the effective placement of own funds in debt and interest instruments. This was reported in the reporting, which the site published at the end of March 2024.

From the materials of the St. Petersburg Exchange it follows that in 2023 the company's revenue from the provision of services and commission income decreased by a third, to 616.4 million rubles. At the same time, trade and investment revenues increased to 832.5 million rubles compared to a loss of 1.1 billion rubles in 2022. Direct operating expenses of the exchange decreased by more than 22%, to 291.7 million rubles.

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The document presents the financial result of the trading platform itself, excluding its subsidiaries operating companies, which affect the group's income. The consolidated financial statements for 2023 in accordance with IFRS, which includes the results of subsidiaries, SPB Exchange will publish no later than May 2 [2024]. This will demonstrate a complete picture of the financial condition of the SPB Exchange group, the press service of the site explained.

In 2023, St. Petersburg Exchange increased financial obligations under the item "Payables" from 89.4 million to 1.3 billion rubles. The growth is associated with deferred payments for transactions related to liquidity management, calculations for which were carried out after the reporting date, the press service of the site explained.

Audit Report On the Consolidated Annual Accounting (Financial) Statements for 2023

2022

Profit growth 10 times to 1.93 billion rubles

Net profit of SPB Exchange in 2022 reached 1.93 billion rubles (according to IFRS) against 187 million rubles in profit a year earlier. The trading platform disclosed its financial statements in mid-May 2023.

According to the materials of SPB Exchange, a significant increase in unadjusted EBITDA and net profit is explained by the fact that in 2021 net operating profit was reduced by expenses for the implementation of option programs in the amount of 2.39 billion rubles, which was provided by the shareholder of the company - NP RTS Association.

The profit of the St. Petersburg Exchange reached 1.93 billion rubles

From the materials of the "St. Petersburg Exchange" it follows that the value of transactions with foreign securities in 2022 fell by 68.9% and amounted to $122.19 billion. The total revenues of the trading platform reached 7.74 billion rubles, exceeding the 2021 figure by 1.78%. Revenues from services and commissions decreased by 57.83% to 2.57 billion rubles compared to 2021. Of these, 86.92% fell on income from the organization of trading and the services of the clearing center - on the main operating activities of the company.

Interest income, net trading and investment income for the year increased 6.83 times to 3.74 billion rubles due to the effective placement of the equity capital of SPB Exchange received from the company's IPO in 2021.

The exchange also recorded an increase in equity by 10.63% (up to 20.03 billion rubles). Its profit margin was 10.10%. According to the results of 2022, the total assets of SPB Exchange amounted to 74.88 billion rubles, where 30.81 billion rubles were not received payments and investor income from international depositories. When this money comes from higher depositories, it will immediately be paid to investors, the company said.

Fixed assets increased to 2.24 billion rubles, which is mainly due to the cost of renting the office of SPB Exchange and its equipment.^[1]

Reduction in trading turnover by 69% to $122.19 billion

The trading turnover of the St. Petersburg Exchange in 2022 decreased by 69% compared to 2021 and amounted to $122.19 billion. The press service of the trading platform announced this on January 16, 2023.

It is explained that the decrease in trading volume was influenced by the blocking of part of the assets of SPB Bank and its clients stored in the National Settlement Depository, in respect of which EU restrictive measures were introduced, as well as the restriction imposed by the Central Bank of the Russian Federation on unqualified investors for transactions with securities of companies from unfriendly jurisdictions.

Trading turnover of the St. Petersburg Exchange in 2022 decreased by 69% compared to 2021 and amounted to $122.19 billion

In 2022, investors entered into a SPB exchange 114.92 million transactions with foreign shares and depositary receipts. The average daily number of transactions amounted to 456.02 thousand, the volume of the average transaction - $1.063 thousand.

The number of customer accounts with securities positions increased by 11.05%, to 1.78 million. In December 2022, the number of active investor accounts amounted to 191.33 thousand, 76.41% less than a year earlier. The number of securities of international companies on the St. Petersburg Exchange platform for the year increased by 11.84%, to 2.238 thousand items. The leaders in trading volume in 2022 were Tesla (14.77% of total trading), Nvidia (4.98%), Alibaba (3.54%), Apple (2.98%) and Coinbase (2.85%).

At the end of 2022, the share of the top 20 securities in terms of trading volume amounted to 48.45% (48.53% at the end of 2021), the share of the top 50 - 61.84% (62.68% at the end of 2021).

During 2022, the value of the SPB100 index, which shows a change in the value of the top 100 securities from the average portfolio of retail investors on the St. Petersburg Stock Exchange, decreased by 31.52% and amounted to 636.78 points as of December 30, 2022.

It is noted that in 2022, the St. Petersburg Exchange significantly expanded its line of investment products, starting trading in international ETFs, Chinese and Hong Kong securities with an initial listing on the Hong Kong Stock Exchange, as well as due to the admission to trading of securities from Kazakhstan.^[2]

History

2023

$3 billion of Russian investments in foreign securities were frozen due to sanctions against St. Petersburg Exchange

$3 billion of Russian investments in foreign securities were frozen due to sanctions against the St. Petersburg Exchange. This was reported in the press service of the trading platform at the end of December 2023.

The company made a statement after the Chairman of the Bank of Russia Elvira Nabiullina said in an interview with RBC that the volume of investments of Russians in securities of foreign issuers on the St. Petersburg Exchange from February 2022 to November 2023 decreased by almost 57% and amounted to more than $3 billion. More than 80% of the owners of these securities are qualified investors, the head of the Central Bank said.

St. Petersburg Exchange recognized the blocking of investor assets for $3 billion

The regulator prioritizes the protection of unqualified investors and seeks a balance between broad portfolio diversification and investor protection. The Central Bank has already warned about the risks of owning foreign assets, so from January 1, 2024, non-valleys are prohibited from buying such securities, the head of the regulator recalled.

We see that our concerns were for good reason, because many investors who owned foreign securities through the infrastructure of friendly countries faced problems. Now, due to the risk of secondary sanctions, these organizations are conducting long compliance procedures, "said Elvira Nabiullina.

In early December 2023, the deputy head of the Ministry of Finance, Ivan Chebeskov, said that the assets of Russian investors blocked on the St. Petersburg Exchange could be exchanged within the framework of a decree signed in November 2023 by the president, which would allow the exchange of blocked assets worth within 100 thousand rubles.

Elvira Nabiullina, assessing the possibility of St. Petersburg Exchange to develop under sanctions, noted that the Central Bank has no concern about the fate of the site. The exchange will be able to adapt to new conditions, it has plans to launch new services and products, she is sure.^[3]

Appointment of Yevgeny Serdyukov as CEO and change of vector to ruble investments

St. Petersburg Exchange announces a change in strategy with a reorientation to ruble instruments, changing the general director. On November 7, 2023, the St. Petersburg Exchange announced the appointment of Yevgeny Serdyukov as the new CEO of the company instead of Roman Goryunov, who has been in this position since October 2021. Goryunov will also leave the board of directors of the site. Read more here.

"After solving the priority task of SPB, the Exchange will implement a new development strategy, within the framework of which it will focus on trading in investment instruments with settlements in rubles, retain and develop projects in the Russian financial market," said Yevgeny Serdyukov, replacing the past general director Roman Goryunov.

US sanctions against the exchange

On November 2, 2023, the United States included SPB Exchange in the SND list, which implies blocking all assets in its jurisdiction, prohibiting any dollar transactions and transactions with American counterparties.

For an exchange focused on international transactions, this is a verdict, since US sanctions are extraterritorial and in fact apply to key US counterparties.

Although the St. Petersburg Exchange said the assets would not affect customers, there is no access to the assets and it is not known when access will appear. The volume of suspended assets is not yet clear, but, probably, we are talking about 300-500 billion rubles, taking into account mutual funds.

Trading in foreign securities is suspended in order to carry out compliance procedures: SPB Exchange interacts with Russian and foreign counterparties in order to establish the procedure under the current conditions... consultations will take at least seven working days.

Formally, the United States allowed operations until January 31, 2024, but this does not guarantee the right to sell assets. While there is no understanding of how the new rules will work, there is also no certainty about the financial infrastructure with friendly countries.

St. Petersburg Exchange functioned as the main provider of foreign currency liquidity in the Russian financial market in the context of concentration on shares of foreign issuers. If the Moscow Exchange specializes in monetary and foreign exchange transactions, the St. Petersburg Exchange was sharpened for foreign assets (primarily shares).

Although sanctions were imposed on dollar assets, Hong Kong shares were also blocked. In September, Hong Kong shares accounted for less than 5% of the trading turnover in the turnover structure, i.e. this segment is not very popular.

In fact, currency control is not established by the Central Bank of the Russian Federation, but by the United States. US sanctions will limit the outflow of capital from Russia to foreign assets, which reached 600 billion rubles in 2021.

This is the second time after the outbreak of the conflict in Ukraine, when Russian clients became victims of infrastructure risks.

The incident with the St. Petersburg Exchange shows that the Russian financial circuit is now turned exclusively to itself (ruble instruments). Any foreign exchange transactions through Russian counterparties carry gigantic infrastructure risks.

2022

It is possible to study the launch of trading on shares from Uzbekistan, India, Brazil, Mexico and South Africa

In December 2022, the St. Petersburg Exchange, specializing in trading in foreign shares, considers the launch of trading in instruments from new friendly jurisdictions: we are talking about shares from, Uzbekistan,, India, and Brazil Mexico REPUBLIC OF SOUTH AFRICA others. of developing countries

Beginning of trading in shares of companies from the Hong Kong exchange

St. Petersburg Exchange begins trading in shares of companies from Hong Kong. From June 20, 2022, 12 securities will be available to investors, by the end of the year their number will grow to 200. Settlements will go in Hong Kong dollars without the participation of European clearing companies.

St. Petersburg Exchange on December 5, 2022 begins trading in shares of 21 new issuers with an initial listing on the Hong Kong Stock Exchange (HKEX), increasing the total number of offered shares in the region to 79.

It was announced that the St. Petersburg Exchange will provide access to shares of companies from 8 new sectors of the Chinese economy, while the total number of represented industries will increase to 35. These include the securities of Industrial and Commercial Bank of China, China Construction Bank Corporation, Bank of China, China Merchants Bank, Ping An Insurance (Group) Company of China, China Petroleum & Chemical Corporation, CITIC.

The total market capitalization of Chinese securities, which will begin trading on December 5, is HKD 4.25 trillion (about 545.9 billion USD). Trading and settlements on securities are carried out in Hong Kong dollars (HKD), currency conversion is provided by broker services. Thus, investors on the St. Petersburg Exchange will have access to the securities of 1975 international companies.

SPB Exchange calls on Russian IT developers to conduct an IPO. There are already 30 companies on the list of applicants

Russian investors are showing interest in fast-growing IT companies; by the end of 2022, the St. Petersburg Exchange may begin trading in shares of domestic players whose business is based on new technologies. Especially for this, the segment "SPB New Economy"^[4]" was created.]

As TAdviser, Managing Director of RBM Group Gennady Margolit, who participated in the creation of the SPB New Economy segment, told TAdviser, who headed the innovation and investment market of the Moscow Exchange for more than 10 years, as of June 2022, the formation of a new pilot group of innovative companies for primary placement is nearing completion. According to him, the timing of the first IPOs has shifted, however, provided that the sanctions pressure against Russia stabilizes, the first transactions may take place before the end of 2022. For the Ministry of Digital Development , the exchange has prepared a list of 30 companies that in the future will be able to place their shares in the St. Petersburg New Economy segment for 3 years.

There were several IPO candidates from e-commerce, fintech and medicine with very strong retail brands in February 2022, Margolita said. Well-known companies could draw the attention of private investors to the new segment of securities and spur the interest of innovative businesses in a new tool for attracting money for them. After February 24, most companies retired or suspended IPO preparations because they could not assess the prospects in the new conditions. At the same time, Margolit says, new companies appeared, primarily representatives of the IT market, who joined the struggle for the niches left by foreign companies.

The segment "SPB New Economy" was formed in the "pre-crisis" period, and the situation changed a lot after February 24, and the circle of candidates changed. Now the process of forming a new pilot group of companies is underway. In order to translate it into the course of specific preparation of transactions, and this is a minimum of six months, some minimum reserve of stability is needed, so it is important to wait for the end of the "hot" phase of the conflict and stabilization of sanctions waves, "Gennady Margolit shared with TAdviser

Since the creation of SPB, the exchange has specialized in the sale of shares in foreign companies, primarily representatives of the American hi-tech market. According to Gennady Margolit, in terms of trading in shares of St. Petersburg, the exchange caught up with the Moscow Exchange, and in 2021 it was decided to work with Russian securities. The first domestic issuers were ALROSA, Magnit, MTS, TATNEFT, Severstal and 15 other leading Russian companies.

According to the interlocutor, the segment "SPB New Economy" was created in order for fast-growing high-tech companies to gain access to inexpensive "long" money that they need to develop and implement an import substitution strategy.

The public status that a business receives with going public makes it easier to conduct M&A transactions (merger and acquisition). In addition, going public is new tools for motivating specialists working in companies, for example, through option programs. Public status gives a marketing effect, confidence in the company in the market increases significantly, which makes it easier to conduct business. In addition, issuers receive PR and marketing support from SPB Exchange, which increases the effectiveness of the promotion companies.

The SPB New Economy segment was created so that fast-growing high-tech companies have access to inexpensive "long" money that they need to develop and implement an import substitution strategy. The photo is telemetr.me

Moreover, as noted by Gennady Margolit, investors are also interested in the emergence of new fast-growing assets. According to him, interest in innovative companies among investors has increased due to the geopolitical crisis.

According to our estimates, with which the largest Russian brokers agree, investors have interest in buying promising growing domestic companies - leaders of their segments. Inflation and narrowing investment opportunities make investments in fast-growing companies extremely interesting, in some ways even more interesting than in "chips" with their geopolitical and opportunistic risks. The presence of these companies in the portfolio is an imperative for diversification, "the expert told TAdviser

At the same time, at the first stage, only fairly large companies that already have a steady cash flow will be able to enter the stock exchange, that is, annual revenue of at least 1 billion rubles. This will make it possible to make a starting valuation of the asset. The first placements should also be quite large, from 1.2 billion rubles (about $20 million) per transaction. This is necessary to form secondary liquidity. After the first transactions, according to the interlocutor, the limit is likely to decrease and it is possible that even venture capital companies will be able to go public over time.

Potentially, the list of companies that can conduct an IPO in the segment "St. Petersburg New Economy" is wide, not only representatives of IT, but also retail, fintech and have the opportunity to go public. health care Access is open to all participants in the register of domestic IT companies, members of specialized associations - APKIT, ARPP "Domestic Software" Association of Fast-Growing Technology Companies (National Champions), NP, "Russoft" Information Protection Association and Electronic Communications Association (RAEC). In addition, representatives of traditional businesses can place their shares on the exchange, showing high growth rates due to the use of technologies such as big data, (AI), artificial intelligence (ML), machine learning etc. IoT

According to Alexei Ananyin, president of the Borlas group, until February 24, the company had plans to go to the IPO, but they had to be revised.

We will return to the idea of ​ ​ initial placement after the stabilization of the situation, when it will be clear what will become of the IT market and companies like ours. In general, the IPO tool is very interesting to IT representatives, and I think it will be in demand after the market ceases to fever. It is too early to talk about the timing of when this will happen. However, it is clear that at some point the situation will normalize, however, already within the framework of the new reality, - Alexey Ananyin, president of the Borlas group, shared his plans.

Korus Consulting CEO Alexander Semenov told TAdviser that the company is also considering an IPO. According to him, the situation is very favorable for representatives of innovative businesses.

Now there is a lot of free money on the market, and the assets in which you can invest are much less. At the same time, there are several hundred dynamically developing innovative companies in Russia that are interested in raising capital. This is not only IT, but also fintech, retail, and medical tech, where there is an active introduction of high technologies. In addition to attracting "inexpensive" money, going public allows employees to make options. This increases their loyalty and interest in the success of the business. Korus Consulting sees the IPO as one of the effective tools for increasing liquidity and raising capital.

The press service "New Cloud Technologies" of the developer of the software package "MyOffice" told TAdviser that they are not yet interested in an IPO. In February 2022, control over the New Cloud Technologies company passed to Kaspersky Lab, which increased its share in the developer from 47% to 61.05%.

The Astra Linux GC also said that it was premature to talk about the placement of the company's shares on the stock exchange.

VTB's exit from the capital of the St. Petersburg Exchange

On May 23, 2022, VTB announced the withdrawal from the capital of the St. Petersburg Exchange (SPB Exchange). The bank's share in the trading platform decreased from 9.25% to zero, the credit institution said without specifying the parameters of the transaction (VTB explains this with confidentiality conditions).

It is noted that the share was transferred as a result of the transaction, which took place on May 20. The buyer's name has not been released. By the time this text was published, there was no information on changes in the composition of shareholders on the page of the St. Petersburg Exchange in the Information Disclosure Center and on its website.

VTB completely withdrew from the capital of the St. Petersburg Stock Exchange

By May 2022, the St. Petersburg Exchange is the largest organizer of trading in foreign securities within the Russian jurisdiction. Securities of 1.5 thousand foreign issuers are traded on the site. The main shareholder of the exchange is NP RTS (54.1%).

At the end of April 2022, it became known that the subsidiary credit institution "St. Petersburg Exchange" Best Efforts Bank decided to place 400 million shares on an open subscription. This amount of shares is seven times higher than the available capital of the main financial structure. This was discussed in the media with reference to the decision of the meeting of shareholders.

After the start of the Russian special operation in Ukraine, VTB fell under American sanctions. As a result, the brokerage divisions of the bank lost the opportunity to make transactions in dollars and any transactions with foreign counterparties. On May 16, 2022, VTB resigned from the shareholders of the Qatari CQUR Bank.

In March 2022, VTB My Investments clients who own foreign investments began to be transferred to other brokers, including Alfa Bank, which soon fell under blocking US sanctions together with Sberbank. Some VTB clients had problems moving to other brokers.^[5]

2021

Capital growth by 5 times up to 18 billion rubles

SPB Exchange reported record income for 2021. Net operating profit jumped 2 times to 3.3 billion rubles, but net profit decreased by 85%, since the exchange had to fulfill the requirements of IFRS and reflect the "paper" expense under the option program for employees, although the shares were allocated by one of its shareholders NP RTS. By 2022, the exchange significantly increased its margin of safety, increasing capital by more than 5 times to 18 billion rubles. due to real profit and a successful IPO.

1602 securities of foreign issuers, including shares, depositary receipts and Eurobonds, are in circulation at organized trading of PJSC St. Petersburg Exchange. The value of transactions in the mode of main trading in securities of foreign issuers in May 2021 amounted to $26.67 billion. The number of active customer accounts is 774.02 thousand.

IPO on the Moscow Exchange, estimated at $1.3 billion

On November 19, 2021, the St. Petersburg Exchange held an IPO, placing shares at $11.5 (834.9 rubles) apiece. Securities began to be traded on the Moscow Exchange. By the opening of the site, their cost increased by 17.4%.

Also, the shares of the "St. Petersburg Exchange" are placed on their own site. The first deal with the company's shares on the St. Petersburg Stock Exchange on November 19, 2021 was concluded at a price of $12.01. As of 10:10 Moscow time, the value of the company's shares grew by 12.41%. An hour later, the price of one share was already $12.28, and the volume of trading - $15.2 million, follows from the trading data.

SPB Exchange held an IPO and was valued at $1.3 billion

As part of the IPO, investors were offered up to 15.2 million ordinary shares (about 13.3% of the capital). The placement passed along the upper limit of the price range. According to the results of the listing, the estimate of the "St. Petersburg Exchange" amounted to $1.3 billion.

According to Vedomosti, the re-signature of the application book during the placement amounted to 500%, and the total demand was above $800 million, while the company hoped to attract about $150 million.

The exchange plans to use the funds raised from investors to implement general corporate goals, including to increase the capital of key operating subsidiaries of Best Efforts Bank and the NPO-Central Committee Clearing Center of the Moscow Institute of Finance.

According to the additional issue approved by the Bank of Russia, the authorized capital of the exchange can be doubled by placing 114 million 86 thousand 160 shares with a par value of 3.75 rubles each. Currently, the authorized capital of the exchange is 427.82 million rubles. Outside the Russian Federation, 57 million 43 thousand 80 shares of the exchange can be placed and traded, but not more than 25% of the total number of shares placed and outstanding, the regulator's decision said.

According to Interfax, SPB Exchange also plans to list its shares on the Nasdaq exchange in April 2022.^[6]

Roman Goryunov - the new general director of the exchange

On October 6, 2021, the board of directors of SPB Exchange approved Roman Goryunov as the new general director of the company. He will replace Yevgeny Serdyukov, who will remain on the board of SPB Exchange and, as the first deputy head, will continue to be responsible for the development of exchange markets. Read more here.

BCS World of Investments acquired 2.5% of the exchange from NP RTS

In June 2021, BCS World of Investments acquired 2.5% of the St. Petersburg Exchange from NP RTS, which remains under control of a 25% stake in the exchange.

Tinkoff Group became the owner of 5% of the St. Petersburg Exchange

Tinkoff Group and the NP RTS Association, the main shareholder of the St. Petersburg Exchange, signed a memorandum of cooperation on June 4 and agreed to sell the shares of the St. Petersburg Exchange by NP RTS in the amount of no more than 7.5% of the authorized capital. This was announced on June 4, 2021 by TAdviser at TCS Group Holding.

Тинькофф стал совладельцем Санкт-Петербургской биржи
Фото: RIA Novosti/ Ramil Sitdikov

According to the agreements, the parties intend to make joint efforts aimed at expanding the list of financial instruments circulating at organized trading held by the St. Petersburg Exchange. Tinkoff and the NP RTS Association will work in a coordinated manner to develop an organized market for Russian securities, in particular, the primary, as well as an organized market for derivative financial instruments, including options for securities of international companies.

As noted, Tinkoff Investments is one of the largest bidders on the St. Petersburg Stock Exchange (in terms of trading volume, the number of registered and active customers, as well as in terms of client assets). In 2020, the number of Tinkoff Investments clients increased 5 times, customer profit amounted to 30 billion rubles. Tinkoff Investments continue to develop their information and educational services inside the mobile application and on the tinkoff.ru. Since the launch, more than 1.2 million people have completed all the tasks of the investment manual. More than 1.2 million users are registered on the Tinkoff Investments Pulse social network.

"The St. Petersburg Exchange is our key partner in foreign securities trading: Tinkoff Investments clients make hundreds of thousands of transactions a day on the exchange. Cooperation within the framework of the memorandum will allow us not only to strengthen existing synergies, but also to jointly develop and provide investors with a wider range of financial instruments, including complex investment products. All this will allow us to actively participate in the formation of a favorable environment for the further development of the brokerage market in Russia, "said Stanislav Bliznyuk, Chairman of the Board of Tinkoff Bank.

"The St. Petersburg Exchange is developing as an independent market-oriented platform, creating a corporate structure in which bidders are partners and shareholders. To this end, the NP RTS Association consistently reduces its share in the capital of the St. Petersburg Exchange, attracting key bidders as shareholders. Therefore, the signing of a memorandum of cooperation with the long-time partner of the Exchange - Tinkoff Bank - was a logical continuation of the development strategy. The Tinkoff Bank team has been setting trends in the banking business for many years and seems to me to be an endless generator of ideas in all areas for which it is taken. And Tinkoff Investments confirm this rule: the service from the first day became the most popular, which made it possible to revolutionize the Russian investment market. Tinkoff Bank has become our leading partner, leading the ratings of financial intermediaries on the St. Petersburg Stock Exchange. I am sure that we will continue to actively participate in the development of our companies for the benefit of the Russian financial market, "- Roman Goryunov, President of the NP RTS Association, member of the Board of Directors of the St. Petersburg Exchange.

VTB acquired 5%, Sovcombank increased its stake in the exchange to 18.5%

In April 2021, VTB acquired 5%, Sovcombank increased its stake in the exchange to 18.5% due to the exercise of the option, in March Derzhava Bank sold 5.8% to its owner Sergei Entz under direct control.

The volume of trading on the exchange for the first time exceeded the indicator of the Moscow Exchange

In January 2021 Russia , for the first time in history, the St. Petersburg Exchange had higher volumes than, Moscow Exchange because on the first you can trade foreign shares. The volume of trading on St. Petersburg increased in January by 14% to 36.1 billion. dollars The Moscow Exchange, focused on Russian securities, recorded the equivalent of $30.2 billion.

2020: 10-fold increase in trading volume on the stock exchange

The volume of trading in securities of foreign issuers on the St. Petersburg Stock Exchange in 2020 increased 10 times compared to 2019 and reached $167.29 billion. The results of the site were published on its website on January 4, 2021.

The number of active investor accounts on the stock exchange in 2020 increased 7 times and exceeded 608.77 thousand, and the number of customer accounts with positions on securities amounted to 750.31 thousand (an increase of 6.3 times).

Dynamics of monthly (left axis) and average daily (right axis) trading volume in the Main Trading Mode, $

This was largely facilitated by trading brokers of the St. Petersburg Exchange, who made a significant contribution to increasing the availability of investments in Russia and created investment services with quality and technology at the level of world standards, the company explained.

Dynamics of trading volume in the Main Trading Mode (T +) by years, $ billion

In 2020, in the main trading mode, investors on the St. Petersburg Stock Exchange entered into 203.01 million transactions. The value of the average transaction amounted to $824.02.

Dynamics of the number of customer accounts with securities positions (left axis) and active accounts (right axis), thousand

The number of securities of international issuers at the St. Petersburg Exchange in 2020 increased by 22% to 1,523 instruments (as of December 31, 2020), including shares, depositary receipts and Eurobonds. Such a diverse list of securities covers all sectors of the global economy and allows the investor to find investment ideas in any market situation, as well as effectively diversify portfolios and manage risks. In particular, on August 21, the St. Petersburg Exchange launched the market for European securities denominated in euros. By the end of 2020, shares of the 10 largest issuers from Germany were available at the auction.

The five leaders in terms of turnover in 2020 in the main trading mode on the exchange included: Tinkoff Bank, VTB, Alfa-Bank, BCS and Freedom Finance. At the end of 2020, the share of the top 20 instruments in terms of trading volume was 61%, and the share of the top 50 was 74%.^[7]

Notes