Moscow Exchange Is Going to Boost Its Market Share

MOEX wants to increase trading volume with foreign securities

Moscow Exchange (MOEX) is going to increase its annual turnover of foreign securities 16-fold from $16 billion to $278.5 billion in 2024, according to MOEX presentation for clients.

Once MOEX reaches this goal, its share of trading with foreign securities will increase from 4% to 50%. The current leader in this area is SPB Stock Exchange in Saint Petersburg. The volume of trading with foreign securities now is comparable to the entire Russian market.

In September, the volume of trading with foreign securities on the SBP Exchange was about $26.8 billion while MOEX reported $38.9 billion.

«We are expecting that brokers will be active in offering clients the most reliable access to foreign stocks while the vast majority of investors will prefer to use our platform to trade with such securities. We are going to get at least half of this sector,» MOEX press service reported.

The exchange launched trading with foreign stocks in Russian rubles in 2020; in September this year, it started to support trading nominated in foreign currencies.

By the end of 2020, MOEX wants to increase the number of international companies on the platform to 1,400. This year the company plans to reach the bar of 521 foreign companies. To reach this goal, MOEX is going to add 80 new companies to the platform on a monthly basis.

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