Institutional FX starts 2021 strong, January volumes tick up 6%
Trading volumes at leading institutional FX venues started 2021 on the right foot, with activity up nearly across the board including some near-record figures at various FX ECNs and streaming services.
We’d also note that trading volumes were especially strong in the last few days of the month, with the GameStop-fueled retail trading frenzy in equities having a spillover effect to the overall financial markets, including currencies.
Overall, trading volumes averaged an 6% increase at institutional FX platforms, with all eFX venues except Integral reporting an increase in activity, led by a 14.6% rise at FXSpotStream.
Cboe FX (formerly HotspotFX)
- January 2021 total volumes $701 billion, or ADV $35.05 billion, +7.2% MoM
EuronextFX (formerly FastMatch)
- January 2021 ADV $21.3 billion, +7.2% above December 2020’s ADV $19.9 billion.
FXSpotStream
- January saw FXSpotStream post its second highest ADV ever, of USD49.036 billion.
- ADV MoM (Jan’21 vs Dec ’20) increased +14.6% (USD49 billion vs USD42.8 billion).
- ADV YoY (Jan’21 vs Jan’20) increased 32.41% (USD49 billion vs USD37 billion).
- Jan ’21 ADV of 49.036billion is up 14.98% compared to ADV for all of 2020 of USD42.648billion.
- January overall volume was USD980.7 billion vs December ’20 at USD941.3 billion (at 22 days in December vs 20 day in January).
- January’s ADV of USD49.036billion was second highest ADV on record, behind March ’20’s ADV of USD62.378 billion.
Integral
- Average daily volumes (ADV) across Integral platforms totaled $45.8 billion in January 2021, down 6% from December 2020.