So, do we need to talk about the primary venues? The ADV data from CME Group (which obviously includes EBS) and Refinitiv makes for pretty grim reading with the latter two reporting the lowest daily turnover since they started publishing data in 2007 and 2009 respectively, and the former being in the fifties of billions […]
Following the first group of platforms to report average daily volume for FX markets in April, the primary venues as well as FXSpotStream and Integral have also posted month-on-month declines – the latter two saw year-on-year increases, however for the primaries there were drops. Refinitiv says that spot FX ADV across its platforms was $79 […]
FX settlement utility CLS is the latest market function to unveil record turnover in March following a raft of platforms doing the same earlier this month. CLS says that it handled $2.194 trillion per day across FX products, with increases in all segments. This represents a 21.1% increase from February and a17.8% rise year-on-year. Spot […]
The latest Bank for International Settlements’ (BIS) latest semi-annual release of OTC derivatives statistics shows that notional volumes rose to $640 trillion at the end of June 2019, the highest level since 2014 and up from $544 trillion at the end of 2018. The BIS says part of the increase reflects a seasonal pattern evident […]
CME Group says that its FX Link service achieved a record average daily volume of 20K contracts for October, equivalent to $2 billion in notional value and says the growth reflects “the perspective of a growing number of participants that FX Link is a viable proxy for FX swaps and a proven vehicle for macro […]
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.