FXSpotStream the Stand Out as Early FX Volumes Reported

The first batch of FX platforms to report data indicate October saw a modest uptick in activity from September, although CME Group saw average daily volume (ADV) fall from an outstanding previous month.

The stand-out results come from FXSpotStream, which has reported another peak in activity at $35.9 billion per day. Not only does this represent a 12.5% increase from the previous record in September and a huge 80.1% increase year-on-year, it also means that FXSS is recording ADV very close to CboeFX, formerly HotspotFX.

The latter reports ADV of $37 billion, itself a 3.3% increase month-on-month and 15.6% up on October 2017.

CME Group says it handled 903,000 FX contracts per day in October in its futures and options product set, which Profit & Loss estimates to be in the region of $89.5 billion notional value. This represents a 2% year-on-year increase, however, as noted, it is a 20.2% drop from September, when the Merc hit a peak for the year.

Euronext’s FastMatch continues to tread water in ADV terms, reporting a $600 million per day increase from September to $19.2 billion (this is a 6.7% year-on-year increase), however its Tape continues to add volume strongly – hitting a new high water mark at $94.6 billion per day. This is 12.1% higher than September.

Finally, Integral says it handled ADV of $34.6 billion in October, a 3% increase from September, although the firm does not – for the first time since it started reporting data – provide a year-on-year comparison. Integral’s volumes include all FX products, not just spot.

Colin Lambert

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