MOEX Witnesses 62% YoY Jump in Q3 FX Fees and Commissions Income


On Thursday, Moscow Exchange (MOEX) reported a 14.3 percent year-over-year decline in overall fees and commission income for the third quarter of 2022. The absolute figure came in at RUB 8.9 billion.

It was the second consecutive quarter when Russia’s largest trading platform witnessed a decline in its income from fees and commissions, as the figure dropped by 18.8 percent to RUB 8.05 billion in Q2. Additionally, it puts to a 10.5 percent quarter-over-quarter gain.

The EBITDA between July and September came in 27.5 percent stronger to RUB 11.9 billion. Moreover, the net profit jumped by 29.3 percent to RUB 8.7 billion.

FX Income Jumped

The overall fees and commissions income was dented by a drop in the demand in equities, bond market, money market and other income streams except for forex trading . The fees and commissions-based income from equities sharply dived by 52.8 percent last quarter, whereas the bond and money market witnessed a decline of 25.2 percent and 31.9 percent, respectively.

Only the growth of fees and commissions income from the forex market came in positive, with a 61.9 percent jump, bringing in RUB 1.5 billion.

The decline in income was pushed by timid market demand as trading volumes across all markets dropped. In October, equities and bond market demand on MOEX plummeted by 53.9 percent and 46.2 percent, respectively. FX trading demand also dipped by 22.6 percent despite a surge in the associated income. Only money market demand strengthened by 14 percent.

“The decline was mainly due to the contraction of non-resident trading and lower RUB asset price levels,” MOEX stated.

The forex trading volume again plummeted by 24 percent to RUB 14.9 trillion in October, Finance Magnates recently reported.

Compared with the previous quarter, trading demand and income across all markets, except for the money market, strengthened. Equities market income jumped by 19.9 percent, quarter-over-quarter, whereas the FX market witnessed a 31.6 percent surge.

Furthermore, MOEX provides IT services, along with listing and marketplace offerings. The income from that division also contracted by 13.7 percent in Q3 compared to the previous year’s figure for the same quarter. However, the income stream strengthened by 4.8 percent quarter-over-quarter.

On Thursday, Moscow Exchange (MOEX) reported a 14.3 percent year-over-year decline in overall fees and commission income for the third quarter of 2022. The absolute figure came in at RUB 8.9 billion.

It was the second consecutive quarter when Russia’s largest trading platform witnessed a decline in its income from fees and commissions, as the figure dropped by 18.8 percent to RUB 8.05 billion in Q2. Additionally, it puts to a 10.5 percent quarter-over-quarter gain.

The EBITDA between July and September came in 27.5 percent stronger to RUB 11.9 billion. Moreover, the net profit jumped by 29.3 percent to RUB 8.7 billion.

FX Income Jumped

The overall fees and commissions income was dented by a drop in the demand in equities, bond market, money market and other income streams except for forex trading . The fees and commissions-based income from equities sharply dived by 52.8 percent last quarter, whereas the bond and money market witnessed a decline of 25.2 percent and 31.9 percent, respectively.

Only the growth of fees and commissions income from the forex market came in positive, with a 61.9 percent jump, bringing in RUB 1.5 billion.

The decline in income was pushed by timid market demand as trading volumes across all markets dropped. In October, equities and bond market demand on MOEX plummeted by 53.9 percent and 46.2 percent, respectively. FX trading demand also dipped by 22.6 percent despite a surge in the associated income. Only money market demand strengthened by 14 percent.

“The decline was mainly due to the contraction of non-resident trading and lower RUB asset price levels,” MOEX stated.

The forex trading volume again plummeted by 24 percent to RUB 14.9 trillion in October, Finance Magnates recently reported.

Compared with the previous quarter, trading demand and income across all markets, except for the money market, strengthened. Equities market income jumped by 19.9 percent, quarter-over-quarter, whereas the FX market witnessed a 31.6 percent surge.

Furthermore, MOEX provides IT services, along with listing and marketplace offerings. The income from that division also contracted by 13.7 percent in Q3 compared to the previous year’s figure for the same quarter. However, the income stream strengthened by 4.8 percent quarter-over-quarter.



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