Mixed Results from FX Platforms to Kick Off 2019

While the results from the first three platforms to report FX turnover data are all up from December, the year-on-year comparison is more mixed, with FXSpotStream hitting another peak for the service, but CboeFX and FastmatchFX both falling back.

FXSpotStream reports average daily volume (ADV) of $38.4 billion in all FX products, not just spot, an 18.2% increase on December 2018 and an impressive 46% higher than the previous January. The strong start to the year for the service is a 7% increase on its previous high water mark, set in October 2018.

Elsewhere, CboeFX reports average daily volume of $36 billion in January, a 7.*% increase from December, but a 15.5% drop from the previous January, a month when the platform handled its second highest ADV to date.

Meanwhile, FastmatchFX says ADV was $20 billion in January 2019, up 4.7% on the month, but down 3.8% on the year. Volume reported on the FastmatchFX Tape, while it was up more than three times from Janauary 2018 when the service debuted, actually fell back from December in something of a surprise. The Tape reported $66.8 billion per day in January 2019, down 14.4% from December. The latest data represents the first time that the Fastmatch Tape has seen consecutive declines in volume reported.

 

Colin Lambert

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