Institutional FX trading starts 2023 strong, volumes up 14% MoM
Following a typical holiday season slowdown in activity in December 2022, 2023 got off to a strong start in the institutional FX trading world with all leading eFX venues reporting an uptick in activity.
Overall, institutional FX trading volumes increased in January 2023 by 14% MoM, with each of Cboe FX, EuronextFX, FXSpotStream and 360T posting activity increases of between 5% and 21% as compared to December.
Cboe FX (formerly HotspotFX)
- January 2023 average daily volumes were $42.79 billion, +21.8% from December’s $35.14 billion.
EuronextFX (formerly FastMatch)
- January 2023 ADV $20.48 billion, +14.2% from December’s ADV of $17.93 billion.
FXSpotStream
- FXSpotStream’s ADV MoM (January‘23 vs December’22) increased 5.15%.
- FXSpotStream’s ADV YoY (January’23 vs January‘22) increased 14.31% to USD60.570billion.
- FXSpotStream’s Overall Volume YoY (January‘23 vs January‘22) increased 19.75% to USD1.333trillion.
360T
- Average daily volumes (ADV) at 360T came in at $25.67 billion in January 2023, up 13.9% from December’s $22.54 billion.