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. […]
In this week’s podcast Colin Lambert gets to air some long-held grievances at market structure change when Galen Stops asks him, “any thoughts on the Deutsche Bank job cuts?” Our two podcasters look at the function of risk in the market, as well as the potential impact of what Lambert sees as a steady shift […]
The first two platforms to report June average daily volume indicates that activity rose slightly in June from May, reinforcing a small rebound from April’s lows. CboeFX ADV was unchanged month-on-month at $33.1 billion per day, but 12.4% down year-on-year, while Euronext FX reports ADV of $19.3 billion, up 11.6% from May but down 12% […]
Although EBS volumes rose month-on-month, average daily volume data for CME Group weakened in January from the year before.
CME’s FX futures and options product set had ADV of 838,000 contracts per day, which Profit & Loss estimates represents $83 billion per day, a 23.5% fall from January 2018. This is also a 15.3% drop from December’s estimate of $98 billion per day in notional value.
Meanwhile, EBS, which is now owned by CME, reports spot FX volume of $87.1 billion in January, 14% higher than December, but 17% down on a year-on-year basis. This also represents the worst January for the platform since it started reporting ADV in January 2007.
While the results from the first three platforms to report FX turnover data are all up from December, the year-on-year comparison is more mixed, with FXSpotStream hitting another peak for the service, but CboeFX and FastmatchFX both falling back.
FXSpotStream reports average daily volume (ADV) of $38.4 billion in all FX products, while CboeFX handled $36 billion per day of spot and FastmatchFX saw a daily average of $20 billion transacted on its platform. The Fastmatch Tape saw a decline for the second month in a row, however.
The first batch of FX platforms to report data indicate October saw a modest uptick in activity from September, although CME Group saw average daily volume (ADV) fall from an outstanding previous month.
The stand-out results come from FXSpotStream, which has reported another peak in activity at $35.9 billion per day. Not only does this represent a 12.5% increase from the previous record in September and a huge 80.1% increase year-on-year, it also means that FXSS is recording ADV very close to CboeFX, formerly HotspotFX.
After three platforms reported mixed results last week, FXSpotStream has delivered a strong performance for the month.
Early indications from FX trading platforms suggests all saw a good boost to activity during the US election results sequence.
Bats’ Hotspot handled average daily volume (ADV) of $64.5 billion on November 9, the firm says, roughly two and a half times more than the average it had been handling in the first week of the month and significantly higher than last month’s $25.3 billion ADV.
FXSpotStream also had a good day, with the firm saying it handled $48 billion on a single count basis, almost three times its volumes which last month were $17.1 billion.
FastMatchFX also saw a similar increase in activity, handling $38 billion yesterday, up from the $14 billion it was averaging in November and the $13.6 billion averaged in October.
Most FX major trading venues will be glad to see the back of August – following the downbeat results from FastMatch and Hotspot, four other venues have reported a decline in volumes – two registering historic lows and a third the lowest in seven years. The numbers add up to a horrible month for the platforms and, by association, for the wider foreign exchange industry as activity levels continue to dive following June’s Brexit-inspired spike, most will be hoping for a forex rebound in September.
ICAP’s EBS average daily volumes (ADV) were up 1% year on year in July, standing at $83 billion. Nevertheless, volumes saw a sharp drop on a month on month basis in July, being down by 15% compared to June, ICAP reports. The movement is partly explained by the strong rise in volumes seen in June […]