Institutional FX venues have strong February, volumes up 5% MoM
Institutional FX trading and liquidity venues continued their strong start to 2021, posting a second consecutive month of rising volumes. Activity seemed to be up across the board in the institutional FX sphere during February, averaging a 5% month-over-month increase as compared to what was also a good month of January for institutional eFX.
We’d also note that much of the (rise in) activity is attributable to the last few days of February, when increasing currency volatility brought the GBPUSD to above 1.40, and as interest rates started to rise.
Note the distribution of daily trading during February at Cboe FX (formerly Hotspot FX), as per the chart at right.
Cboe FX (formerly HotspotFX)
- February 2021 total volumes $747 billion, or ADV $37.3 billion, +6.1% MoM
EuronextFX (formerly FastMatch)
- February 2021 ADV $21.9 billion, +3% above January’s ADV $21.3 billion.
FXSpotStream
- In February FXSpotStream posted an ADV of USD49.596 billion, an increase of 1.14% MoM vs January. February’s second highest ADV on record comes on the heels of the second highest ADV previously recorded last month.
- FXSpotStream’s ADV YoY (Feb ‘21 vs Feb ‘20) increased 3.68%.
- FXSpotStream’s Overall Volume MoM (Feb ‘21 vs Jan ‘21) increased 1.14% to USD991.915 billion.
- FXSpotStream’s ADV for 2021 (Jan-Feb) of USD49.315 billion is up 16.92% vs the same period last year (Jan-Feb ’20) of USD42.177 billion.
- On February 26, FXSpotStream supported USD83.862 billion – the 3rd highest daily volume in the history of the Service.
Integral
- Average daily volumes (ADV) across Integral platforms totaled $50.4 billion in February, up 10% from January’s $45.8 billion.