The three primary FX venues all reported an increase in month-on-month activity in September, but unlike the host of venues to report earlier this month, only one of the three managed a year-on-on-year gain.
CME Group says it handled just over one million contracts in its FX futures and options suite for a notional value of $96 billion per day. Being a roll month the 35.8% increase from August comes as no surprise at CME, however year-on-year in notional terms the Merc saw a decline of 6.7%. CME’s EBS spot business also recorded a month-on-month increase of 7.7% to $65.9 billion, however again this was also down year-on-year, by 15.3%.
At Refinitiv, spot volumes across its suite of platforms was $84 billion per day, this is a 12% month-on-month increase – beaten only by Euronext FX’s 12.7% increase – year-on-year this represents a 1.2% rise. In non-spot products Refinitiv reports average daily volume of $342 billion, up 1.5% from August but down 3.9% year-on-year.
To put the data into perspective, earlier this month five other platforms reported an average month-on-month rise of 8% and a year-on-year increase of 10.5%, however some of the platforms do report on a gross basis product wise.