Platforms Report Lower Volumes

Three platforms to report FX trading volume for April are
showing month-on-month declines.

Nex Markets – the re-branded EBS – says average daily volume
was $76.1 billion in April, down 12% from March and 7% year-on-year. It is the
lowest volume at the platform since August 2016.

Meanwhile CME Group saw FX volume decline 19.4% from March,
the Merc handling 788,000 contracts per day in April. CME does not provide
notional data, however Profit & Loss
estimates a notional ADV around $67 billion for the month.

Both platform’s numbers include the very quiet Good Friday
holiday which will impact the monthly average.

FXSpotStream reports ADV on a 20 day basis of $17.1 billion,
however with Good Friday taken out this rises to $17.8 billion, broadly
unchanged year-on-year and 5.3% lower month-on-month.

Colin Lambert

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