Completing a very mixed month-on-month picture for FX trading venues, Deutsche Borse’s 360T reports average daily volume (ADV) of EUR 74.7 billion in October, a fraction below last month’s EUR 75.7 billion.
Previously EBS, FastMatchFX, FXSpotStream, CboeFX and Integral had reported an increase from September, while CME Group and Refinitiv were slightly down.
Since July 2018, 360T’s data has included ADV from GTX, the platform it bought earlier this year, taking GTX’ October 2017 volume into account and reflecting it in euros indicates that the combined year-on-year turnover is up a fraction from EUR 74.4 billion last year.
Data from CboeFX and Fastmatch indicate that while there was an inevitable drop from November, FX activity in December was historically robust.
CboeFX, formerly HotspotFX, reports average daily volume (ADV) of $33.4 billion in December, 4.3% lower than November, but up 7.4% from December 2017. CboeFX data is based upon 21 trading days, it was open in Asia on December 25, but it was not even the quietest month in the year for the platform, that marker going to July at $33.2 billion.
Meanwhile, Euronext’s FastmatchFX report ADV of $19.1 billion, down 5.9% on the month but again up on the year – by 22.4%. Fastmatch data is based upon 20 trading days.
Data from a second group of platform providers has reinforced the message from the first two releases that while it didn't pull up too many trees, December 2018 was a solid month for most that ended a good year. All providers reporting increased activity in the whole of 2018 compared to 2017. There was a more mixed message in the month-on-month data with only three providers reporting an increase from November, but the year-on-year data generally speaking gave grounds for optimism amongst providers.