SPB Exchange monthly report, January 2022

The value of foreign-securities transactions in main trading on SPB Exchange in January 2022 was USD 29.61 billion,1 up 0.10% from December (USD 29.58 billion), but down 17.94% from January 2021 (USD 36.08 billion).

The average daily trading volume involving foreign securities in January increased by 10.06% from December to USD 1.48 billion. Investors made 20.89 million transactions in main trading sessions in January (21.17 million transactions in December 2021).

The number of active investor accounts in January increased by 6.39% to 862.79 thousand (811.00 thousand in December). The number of accounts with positions in securities was 1.66 million, up 3.83% from December.

As of January 31, 19.51 million client accounts were admitted to trading on SPB Exchange, an increase of 5.87% from a month earlier (18.43 million in December). The number of unique customers was 13.06 million, 5.11% more than in December.

January trades involved 1,718 equities and depositary receipts of foreign issuers as well as 25 Eurobonds. The value of transactions in main trading involving Eurobonds in January was USD 8.48 million.

The leading foreign securities by trading volume in main trading sessions were the equities and depositary receipts of the following issuers: Tesla (SPB: TSLA, 17.42%2 of the total trading volume by value in January), NVIDIA (SPB: NVDA, 5.26%), Apple (SPB: AAPL, 4.24%), Alibaba (SPB: BABA, 3.12%), Microsoft (SPB: MSFT, 2.98%), Ford (SPB: F, 2.85%), Moderna (SPB: MRNA, 2.12%), Netflix (SPB: NFLX, 1.62%), Advanced Micro Devices (SPB: AMD, 1.58%), Carnival Corporation (SPB: CCL, 1.44%).

The shares of top 10 equities and depositary receipts of foreign issuers in averaged investor portfolios presented by SPB100 Index were Alibaba (SPB: BABA, 8.37%), Apple (SPB: AAPL, 4.94%), Tesla (SPB: TSLA, 4.21%), Virgin Galactic (SPB: SPCE, 3.50%), Amazon (SPB: AMZN, 3.01%), Microsoft (SPB: MSFT, 2.79%), Meta Platforms (SPB: FB, 2.77%), Boeing (SPB: BA, 2.55%), Baidu (SPB: BIDU, 2.38%), Vipshop Holdings (SPB: VIPS, 2.35%).

In January, 18.10% of the monthly trading volume took place between 10:00 and 17:30 Moscow time, while 1.60% of monthly trading took place between 7:00 and 10:00 Moscow time (101 equities and depositary receipts were available for investors during this trading period).

Pavel Pakhomov, head of the analytical center of SPB Exchange

In January, the SPB100 stock index, which reflects the value of the average portfolio of private investors on SPB Exchange, was down 4.3%, S&P 500 was down 5.5%, and NASDAQ 100 was down 8.9%. At the same time, in January, we see a reserved nature of private investors’ behavior, which is confirmed by the fact that the average daily trading volume on SPB Exchange is at a level slightly higher than the average daily trading volume in the 2nd half of 2021, as well as a slight decrease in the number of transactions, which together indicates a long-term approach to investing even in a volatile market and less emotional reactions to the market conditions by investors. It is worth noting that in a volatile market, local liquidity for any of the securities may not be enough, and the emerging volume of investor orders on any one side (purchases or sales) can significantly shift the local market, and investors will not be able to get an adequate execution price. In such a situation, the use of SPB Exchange’s technology that processes investor orders according to the best execution principle makes it possible to attract liquidity from the external market in order to satisfy orders at market prices on the international market and without any consequences for price changes on the local market.

About PJSC «SPB Exchange»

SPB Exchange is the leading exchange for international securities in the Russian financial market. SPB Exchange operates according to a B2B2C model, simultaneously focussing on retail investors and financial intermediaries as direct customers. SPB Exchange provides investment opportunities for Russian and international investors by offering a wide range of investment products, following best-execution principles and using smart order routing. Opening at 7 a.m. Moscow time, SPB Exchange’s proprietary technology platform provides 19-hour access to an expansive pool of investment products of international financial markets, tight spreads, and unique liquidity.

SPB Exchange’s trading hours cover trading sessions on international exchanges, including regular as well as pre-market and a significant part of post-market trading in the United States and Europe.

The value of foreign-securities transactions in main trading on SPB Exchange in 2021 amounted to USD 393.43 billion, up 135.29% from 2020.

SPB Exchange Group includes the subsidiary operating companies MFB Clearing Center (JSC), which provides clearing services, and PJSC Best Efforts Bank, which acts as a settlement depository.

1 The value of transactions (in main trading) involving foreign securities, which includes equities and depositary receipts of foreign issuers with listings in the United States and Germany and on the LSE, is provided.
2 Percentages of equities and depositary receipts in the total trading volume (in main trading) on SPB Exchange for foreign securities in January 2022.