On Thursday, Moscow Trade (MOEX) reported a 14.3 p.c year-over-year decline in total charges and fee earnings for the third quarter of 2022. Absolutely the determine got here in at RUB 8.9 billion.
It was the second consecutive quarter when Russia’s largest buying and selling platform witnessed a decline in its earnings from charges and commissions, because the determine dropped by 18.8 p.c to RUB 8.05 billion in Q2. Moreover, it places to a ten.5 p.c quarter-over-quarter acquire.
The EBITDA between July and September got here in 27.5 p.c stronger to RUB 11.9 billion. Furthermore, the online revenue jumped by 29.3 p.c to RUB 8.7 billion.
FX Earnings Jumped
The general charges and commissions earnings was dented by a drop within the demand in equities, bond market, cash market and different earnings streams apart from foreign currency trading . The charges and commissions-based earnings from equities sharply dived by 52.8 p.c final quarter, whereas the bond and cash market witnessed a decline of 25.2 p.c and 31.9 p.c, respectively.
Solely the expansion of charges and commissions earnings from the foreign exchange market got here in constructive, with a 61.9 p.c leap, bringing in RUB 1.5 billion.
The decline in earnings was pushed by timid market demand as buying and selling volumes throughout all markets dropped. In October, equities and bond market demand on MOEX plummeted by 53.9 p.c and 46.2 p.c, respectively. FX buying and selling demand additionally dipped by 22.6 p.c regardless of a surge within the related earnings. Solely cash market demand strengthened by 14 p.c.
“The decline was primarily as a result of contraction of non-resident buying and selling and decrease RUB asset value ranges,” MOEX acknowledged.
The foreign currency trading quantity once more plummeted by 24 p.c to RUB 14.9 trillion in October, Finance Magnates not too long ago reported.
In contrast with the earlier quarter, buying and selling demand and earnings throughout all markets, apart from the cash market, strengthened. Equities market earnings jumped by 19.9 p.c, quarter-over-quarter, whereas the FX market witnessed a 31.6 p.c surge.
Moreover, MOEX gives IT companies, together with itemizing and market choices. The earnings from that division additionally contracted by 13.7 p.c in Q3 in comparison with the earlier 12 months’s determine for a similar quarter. Nonetheless, the earnings stream strengthened by 4.8 p.c quarter-over-quarter.
On Thursday, Moscow Trade (MOEX) reported a 14.3 p.c year-over-year decline in total charges and fee earnings for the third quarter of 2022. Absolutely the determine got here in at RUB 8.9 billion.
It was the second consecutive quarter when Russia’s largest buying and selling platform witnessed a decline in its earnings from charges and commissions, because the determine dropped by 18.8 p.c to RUB 8.05 billion in Q2. Moreover, it places to a ten.5 p.c quarter-over-quarter acquire.
The EBITDA between July and September got here in 27.5 p.c stronger to RUB 11.9 billion. Furthermore, the online revenue jumped by 29.3 p.c to RUB 8.7 billion.
FX Earnings Jumped
The general charges and commissions earnings was dented by a drop within the demand in equities, bond market, cash market and different earnings streams apart from foreign currency trading . The charges and commissions-based earnings from equities sharply dived by 52.8 p.c final quarter, whereas the bond and cash market witnessed a decline of 25.2 p.c and 31.9 p.c, respectively.
Solely the expansion of charges and commissions earnings from the foreign exchange market got here in constructive, with a 61.9 p.c leap, bringing in RUB 1.5 billion.
The decline in earnings was pushed by timid market demand as buying and selling volumes throughout all markets dropped. In October, equities and bond market demand on MOEX plummeted by 53.9 p.c and 46.2 p.c, respectively. FX buying and selling demand additionally dipped by 22.6 p.c regardless of a surge within the related earnings. Solely cash market demand strengthened by 14 p.c.
“The decline was primarily as a result of contraction of non-resident buying and selling and decrease RUB asset value ranges,” MOEX acknowledged.
The foreign currency trading quantity once more plummeted by 24 p.c to RUB 14.9 trillion in October, Finance Magnates not too long ago reported.
In contrast with the earlier quarter, buying and selling demand and earnings throughout all markets, apart from the cash market, strengthened. Equities market earnings jumped by 19.9 p.c, quarter-over-quarter, whereas the FX market witnessed a 31.6 p.c surge.
Moreover, MOEX gives IT companies, together with itemizing and market choices. The earnings from that division additionally contracted by 13.7 p.c in Q3 in comparison with the earlier 12 months’s determine for a similar quarter. Nonetheless, the earnings stream strengthened by 4.8 p.c quarter-over-quarter.
