Moscow Exchange (MOEX) announces 2023 financial results, which include significant growth in foreign exchange market trading volume and fee income。Overall, net profit reached 60.8 billion rubles, a significant increase compared to the previous year.。

Moscow bourse reports foreign exchange trading volume and revenue growth

According to the report, the total volume of transactions on the Moscow Exchange's foreign exchange market reached 328 trillion rubles in 2023, up 22 percent from the previous year..5%。The increase was due to an increase in swap volume of 31.4%, spot trading volume increased by 7.5%。

Foreign exchange market fee and commission income up 30% YoY.4% to 7.4 billion rubles。The exchange attributed the faster increase in fees compared to trading volume to the shift in the trading portfolio to lower-margin swaps and the asymmetric tariff structure implemented in August 2022, which favors liquidity providers in the spot market.。

In addition, the exchange has expanded into the digital asset trading space, obtaining an operating license as an operator of digital financial asset information systems.。In 2023, the exchange held its first primary offering and secondary market trading of digital assets.。

MOEX net profit up 67.5%

Growth in the foreign exchange market contributes to MOEX's overall positive financial performance in 2023。Exchange net profit growth 67.5% to 60.8 billion rubles, and total operating income increased by 25.3%, reaching 105 billion rubles。In 2023, the exchange achieved strong growth in all key financial indicators.。Fee and commission income increased 39.4%, reaching 52.2 billion rubles, accounting for 50% of total operating income。

Multiple lines of business contributed to improved financial performance。Financial market services revenue more than doubled, driven by continued expansion of "Finuslugi" online platform。As the volume of commodity derivatives increased, fee income in the derivatives market also emerged 79.Strong growth of 2%。

On the operational side, the Moscow Exchange facilitated more than 200 corporate bond issues in 2023, raising more than 5 trillion rubles for issuers.。During the year, the exchange welcomed nearly 7 million new retail investor accounts, bringing the total number of accounts to 29.7 million.。

The exchange approved a new three-year strategy focusing on developing domestic financial markets, attracting retail investors and maintaining links with international partners.。As part of this strategy, the Moscow Exchange has updated its dividend policy, aiming for a payout ratio of 100% on free cash flow.。