Retail investors are more active in exchange market
Amid the stabilisation of the ruble exchange rate and a rise in stock prices, the number of active clients in the stock market began to grow in 2024 Q1. On average, 3.8 million investors conducted transactions on the Moscow Exchange monthly, which was 0.2 million people more than in the previous quarter.
According to the Moscow Exchange, the number of brokers’ unique clients rose to 31 million people in January—March. The client portfolio increased by 7% mostly owing to growth in the Russian stock market and totalled ₽9.9 trillion. Investors were demonstrating demand for IPOs and shares of quasi-Russian companies. They were also buying corporate bonds and units of money market exchange-traded UIFs.
The average amount of a retail client account edged up from ₽236,000 to ₽242,000 and from ₽1.9 to ₽2 million, excluding empty and trial accounts, over the quarter. The amount of net contributions to brokerage accounts reached ₽249 billion, of which ₽90 billion came from non-qualified investors, including beginners.
Growth in client activity and high returns on investment allowed brokers — non-bank financial institutions to achieve record profit and cost efficiency figures. This offset increased personnel costs.
More details are available in the Review of Key Indicators of Brokers for 2024 Q1.