Operating Income of MOEX Jumps 18% in Q3 2021

Operating Income of MOEX Jumps 18% in Q3 2021

October 29, 2021

Russia’s largest exchange group, MOEX released its financial results for Q3 of 2021 today. The exchange reported record growth in its Fee and Commission (F&C) income. Adjusted net profit increased by 19.4% YoY to RUB 6.7 billion.

The overall F&C income reached RUB 10.4 billion, which is the highest level on record. Fee and Commission Income accounted for 78% of the operating income. In the third quarter of 2021, operating income jumped 18.2% compared to the same period last year.

MOEX also introduced trading in global stocks in USD during the latest quarter. The Bond Market welcomed 175 new bond issues by 77 corporates, including 17 newcomers, for a total of RUB 942.5 billion.

“MOEX has delivered fee and commission income growth significantly ahead of our strategic targets. Key drivers of this growth include the roll-out of new products and instruments, the expansion of trading hours, and the inflow of new clients. The number of individual investors with accounts on MOEX has now reached 15 million,” Yury Denisov, Chief Executive Officer of Moscow Exchange, said.

“Before the end of the year, we plan to increase the number of global stocks available on our platform to 500 names and to launch a morning trading session for the equity market,” Denisov added.

Expansion

MOEX has expanded its operations significantly in the last quarter. The exchange recently raised its stake in NTPro operator. In the announcement, MOEX outlined that it is planning to expand its operations in the future to attract new types of customers.

“In line with our strategy, we are also successfully growing our business beyond traditional securities exchange offerings. We have acquired the OTC FX trading platform NTPro; we are planning an investment into crowdsourcing platform Potok; and we are rolling out new products and services on our personal finance marketplace, Finuslugi. These initiatives expand opportunities for existing clients and allow us to access new types of customers,” Denisov concluded.

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