Repo trades running through the Moscow Exchange’s CCP reached RUB 13.3trn ($2bn) in April, a record since the service launched in February 2013.

When conducted via a CCP repo trades, short for repurchase agreements, are types of on-exchange trade whereby the CCP acts as the trading participant's counterparty.

In this case the CCP is Russia’s National Clearing Centre, which guarantees that obligations are met to all non-defaulting parties regardless of whether obligations to the CCP have been met or not.

The proportion of repo turnover cleared across Moscow Exchange's CCP last month accounted for 62% of the total Russian repo market.

Centrally cleared repo in foreign currency, launched by Moscow Exchange in June 2015, also saw growth.

Trading volumes of repo in Eurobonds (launched in 2014) is expanding, with centrally cleared repos and inter-dealer repos in this type of security up 260% year-on-year.

Another new product, repo in general collateral certificate (GCC), posted growth. Launched in February 2016, turnover totaled RUB 23.8 in April, up 280% month-on-month.

More than 550 transactions were executed during the month. 49 market participants have connected to trade the product; six market makers maintain quotes on a daily basis.

Moscow Exchange said the list of eligible assets will be extended soon by creating two separate pools, one for shares and one for government bonds.