Profits at the Moscow Exchange surged by almost 40% in 2014, despite ongoing European Union and US sanctions against Russia that have hit the country’s financial sector.

Net profits at the Russian venue operator - which was created when two state-backed exchanges, RTS and Micex, merged at the end of 2011 - rose by 38.1% in 2014 from the year before to reach 15.9 billion rubles ($262 million), driven by increased trading volumes. Operating revenues totalled 30.4 billion rubles, up 23.5% year-on-year.