The first three platforms to report FX volumes for October indicate that while turnover failed to maintain the September highs, average daily volume (ADV) remains close to the year’s peak.
CBoE’s HotspotFX reports ADV of $32 billion in October, a 3.3% decline from September but 26.5% higher than October 2016. This still represents the platform’s second highest month since February 2016 in ADV terms.
FXSpotStream reports ADV of $19.9 billion – again this is a month-on-month decline (of 16.9%) but a year-on-year rise of 16.3%.
Euronext’s FastMatchFX also saw a month-on-month decline, recording ADV of $18 billion in October, down 13.9% from September, however, as was the case with Hotspot, year-on-year volume is much stronger at 32.3% higher.
Gain Capital’s GTX reports ADV of $11.4 billion across its ECN and SEF, this is a 14% decline from September but is 31% up year-on-year. The GTX swap dealer platform handled just under $3.3 billion per day in October, up 10% month-on-month and 18% year-on-year.