It looks like there was an uptick in trading activity in March, as the first platforms to report trading volumes – FXSpotStream, Cboe FX and FastMatch – all reported higher month-on-month volumes.
The average daily volume (ADV) traded on FXSpotStream was $37.8 billion in March, its second highest month ever and an 8.38% increase from the $34.8 billion it reported for February. It also represents a 37% increase compared to March 2018.
CboeFX reported an ADV of $38.5 billion last month, up 11.6% from the $34.5 billion it reported in February, but largely flat year-on-year.
The ADV on FastMatch’s platform in March was $21 billion, up 16% month-on-month and 11.7% year-on-year. Meanwhile, volumes on FastMatch’s FX Tape spiked dramatically last month, with the ADV going from $64.5 billion of notional value reported in February to $101.4 billion in March, a 57% increase.
Fastmatch and Cboe FX volumes represent spot FX products only, while FXSpotStream data is for all FX products, including FX swaps.