After a desperate July there was better news for the primary FX trading venues in August with all seeing an increase in activity.
CME Group says that it handled an average of 821,000 contracts in its FX futures and options product suite, which Profit & Loss estimates to represent around $81.2 billion in notional terms. This is a 19% increase from July but a 7% decline year-on-year.
The Merc’s EBS business line reports average FX daily volume of $91 billion, meanwhile, the highest volume on the platform since June 2018. This is a 34.6% increase month-on-month and a 7.4% increase from August 2018.
Elsewhere, Refinitiv says ADV for its spot FX products across the Matching and FXall platforms was $89 billion, an 11.25% increase from July but a 5.3% decline year-on-year. In non-spot products, Refinitiv says ADV was $326 billion, a 3.3% fall from July, but a 5.5% rise from August 2018.
With 360T reporting much later in the month, all platforms have recovered much of the ground lost in July, however only EBS, EuronextFX and FXSpotStream are up compared to June (CboeFX is unchanged). Likewise, year-on-year, those three platforms along with Integral have registered an increase in activity.