FX Platform Volumes Rise in September

The first group of FX platforms to report average daily volume (ADV) indicate that September was a busier month all round, with all showing month-on-month and year-on-year rises.

Euronext FX reports ADV of $21.3 billion in September, a 12.7% increase from August and up 11.5% from September 2019. The exchange group’s FX Tape reported $123.1 billion per day, $1 billion in notional down month-on-month, but up 46.4% year-on-year. Having recorded just three months of over $100 billion in its first 28 months’ existence, the Tape has now reported four consecutive months over that figure.

Deutsche Borse’s 360T reports spot ADV of $22.9 billion in September, a 7.5% month-on-month increase and up 9% year-on-year, while FXSpotStream, which reports in all FX products, hit its third highest ADV at $43.7 billion. This represents a 6% increase from August and a 17.2% year-on-year increase.

Integral also had a strong September, reporting its second highest ADV since it started publishing data in 2018 at $41 billion. The firm also reports all FX products, not just spot, and this represents a 3% increase from August and is up 9.9% year-on-year.

CboeFX ADV in September was $31.9 billion, an 11.1% rise from August and up 4.9% year-on-year. ADV on CboeFX’s firm liquidity pool was $10.77 billion, a 14% increase from August, while the average fill rate for the month was 86.4%, down slightly from 86.77% in August.

Colin Lambert

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