Repo volumes see record high

Repo with the CCP remains the fastest-growing instrument on Moscow Exchange"s Money Market. In April 2015, trading volumes of CCP-cleared repo totaled RUB 4.4, a year-on-year increase of approximately three times and a monthly record since the instrument was launched in February 2013.

The average daily trading volume in April of repo with the CCP was RUB 198.4 bln. Repos with the CCP in shares and bonds accounted for 48% and 52% of the total trading volume, respectively.

The share of CCP-cleared repo transactions exceeded 50% of the total repo market (not taking into account repo with the Bank of Russia). Negotiated transactions accounted for 68% of the total volume, while 32% were made on the order book.

Currently, all OFZs, 55 stocks, 140 corporate bonds and 95 Eurobonds are admitted to repo with the CCP. More than 270 brokers execute repos.

Trading volumes of repo in corporate Eurobonds is increasing rapidly and reached a record RUB 1.2 trln in April.

Corporate Eurobonds were admitted to interdealer repo with settlement in RUB from June 2014. Foreign stocks and DRs became eligible for repo with settlement in foreign currency from October 2014.

The total trading volume of the Money Market was RUB 17.5 trln in April, with average daily trading volume of RUB 795 bln.

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