New records on Moscow Exchange's Money Market
Moscow Exchange's Money Market showed strong trading volume growth in most instruments.
The CCP repo volume was RUB 172.4 bln on 30 September, a record since the instrument was launched in February 2013. The monthly trading volume of CCP repo rose 28% MoM to a record RUB 2.8 trln. The average daily trading volume in September reached RUB 128.4 bln, a record since the launch of CCP repo. More than 245 members conducted CCP repo transactions.
The volume of corporate Eurobonds in interdealer repo transactions is growing rapidly, rising 71% MoM in September to RUB 482.8 bln. The volume of CCP repo in foreign securities (corporate Eurobonds, depository receipts, and foreign shares) rose 33% MoM to RUB 910.9 bln. The volume of corporate Eurobonds in repo with the Bank of Russia rose 43% MoM to RUB 325.7 bln.
Deposit & loan operations (deposits by the Bank of Russia, Federal Treasury, and Russia's Pension Fund) reached a record RUB 2.5 trln (September 2013: RUB 1 trln).
"Repo with the central counterparty has quickly become one of the main segments of the Money Market, facilitating liquidity management by members of unequal credit quality. The admission of Eurobonds to exchange repo has provided additional opportunities to raise funds, somewhat mitigating Russian companies' restricted access to foreign markets. We plan further expansion of the list of securities admitted to exchange repo, including by admitting Eurobonds to CCP repo", said Moscow Exchange Money Market Managing Director Igor Marich.
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