The net profit of the Binance cryptocurrency exchange in the third quarter of 2019 was almost twice as highsimilar indicators of the Moscow Exchange.
Being an exchange is profitable
The situation in the world economy and geopoliticsbegan to improve, and investors again flocked to the risky asset markets, ensuring not only an increase in volatility in the financial markets, but also an increase in the income of trading platforms. According to the latest financial statements of PJSC Moscow Exchange (MOEX), the exchange’s revenues in the third quarter of 2019 increased by 6.8% to 5.45 billion rubles (about $87 million). Moreover, the site recorded a record high increase in revenue for almost all income items, including commissions, interest and settlement and depository services.
In the third quarter, Moscow Exchange was helped by successfulconfluence of external and internal circumstances. In particular, the improvement in the general market conditions attracted new investors to the exchange, including from the retail segment, and the increase in volatility contributed to an increase in trading volumes and client activity in general. In addition, during the reporting period, the company expanded its product line and added new services, which also contributed to a significant increase in trading volume and, as a result, an increase in the company’s revenue.
Continued on the website: https://beincrypto.ru