Three primary FX trading venues saw increased month-on-month activity in June 2019, however as was the case with other platforms that reported earlier this month, they were all down year-on-year with the exception of Refinitiv’s non-spot FX products.
The total average daily volume (ADV) of FX trading in all products across Refinitiv platforms in June totalled $452 billion, up 18% from May and flat year-on-year.
The ADV of spot FX trading on these platforms was $93 billion in June, up 8.1% from the previous month, but down 14.6% from the $109 billion it reported in June 2018. The ADV of non-spot products was $359 billion last month, up 20.9% from May and up 4.7% year-on-year.
Refinitiv also says that on June 26, FXall saw a new daily high with $397 billion in notional volume traded on the platform.
Elsewhere, CME Group says that spot FX ADV on EBS was $88.6 billion in June, a 13% increase from May, but a 7.5% decline from June 2018. On its FX futures and options suite, CME says that contracts averaged 1.065 million per day, which Profit & Loss estimates to be a notional value of $105.4 billion. This represents the usual surge in activity on CME during roll months, so is up 29.5% month-on-month, however activity is down 8.7% year-on-year.