The Moscow Exchange, which is Russia’s largest stock exchange, said on Monday that its trading volume had topped 1 quadrillion roubles ($14.44 trillion) for the second year in a row. This was partly due to increased turnover in repo operations.
“This has not been an easy year. The markets faced problems that had never been seen before,” said Yuri Denisov, who runs the Moscow Exchange as head of MOEX Group.
“Since the start of 2022, the total amount of money traded has gone over 1 quadrillion roubles.”
“The main reason for this was the money market, which moved money around and gave liquidity to all traders,” he said, explaining that the shorter time frames for placing funds—from a week or a month to overnight—had led to more turnover and a rise in trading volumes.
Related: In early Moscow trade, the Russian rouble stabilised at about 60.50 per dollar.
On December 16, the quadrillion mark was reached. There were a total of 1,009 trillion roubles in 2021.
Soon after Russia sent tens of thousands of troops into Ukraine and Western sanctions caused chaos on Russian markets, the Moscow Exchange stopped some trading.
Moscow Exchange, like its competitor SPB Exchange, is now looking to expand in markets other than the West in 2023.
Denisov said that the bourse would start trading the rouble with the UAE dirham, the Azerbaijani manat, and the Egyptian pound.
