Moscow achieve record breaking CCP repo volume 06 May 2016 Moscow Reporter: Drew Nicol
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The Moscow Exchange saw record-high trading volumes of central counterparty (CCP) cleared repo transactions in April.
Monthly volume peaked at RUB 13.3 trillion ($200.6 billion), representing the exchange’s largest volume since the service launched in February 2013.
The average daily trading volume rocketed up 220 percent from April 2015 to be valued at RUB 632.4 billion ($9.5 billion).
The proportion of repo turnover cleared across the CCP accounted for 62 percent of the exchange’s total repo market.
CCP- cleared repo in foreign currency, which launched in June 2015, also saw record-breaking growth with monthly turnover reaching $42.2 billion in April, up 25 percent on the previous month.
Trading volumes of repo in eurobonds soared by 260 percent compared to the same time in 2015, with CCP-cleared repos and inter-dealer repos reaching RUB 7.4 trillion ($111.6 million).
Finally, the exchange’s newest repo product, the general collateral certificate, has exploded out the gates, boasting 280 percent growth in turnover for April, compared to the previous month.
Moscow Exchange launched the general collateral certificate in February to allow participants to increase their turnover on the equity, bond and money markets.
The new instrument combined the advantages of the two most popular products on Russia's money market, centrally cleared repo and general collateral basket repo, with collateral management.
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