October 2024 saw an across-the-board decline in institutional FX spot trading volumes at leading eFX venues, marking the second monthly decline in a row, and that despite some healthy volatility in leading currency pairs leading up to what looks like will be a very closely contested US election.

Each of FXSpotStream, Cboe FX, 360T, and EuronextFX posted trading volume decreases of between 5% and 10% in October 2024.

Cboe FX (formerly HotspotFX)

• October 2024 average daily volumes were $42.82 billion, -8.3% from September’s $46.70 billion.

EuronextFX (formerly FastMatch)

• October 2024 ADV $26.20 billion, -5.0% from September’s ADV of $27.58 billion.

FXSpotStream

• October’s ADV of $93.1 billion consisted of a Spot ADV of $66.8 billion and $26.3 billion in other products.
• FXSpotStream’s Total ADV MoM (Oct’24 vs Sep’24) decreased 8.67%.
• FXSpotStream’s Total ADV YoY (Oct’24 vs Oct’23) increased 37.41%.
• FXSpotStream’s Spot ADV MoM (Oct’24 vs Sep’24) decreased 7.27%.
• FXSpotStream’s Spot ADV YoY (Oct’24 vs Oct’23) increased 26.59%.
• FXSpotStream’s Other ADV MoM (Oct’24 vs Sep’24) decreased 12.04%.
• FXSpotStream’s Other ADV YoY (Oct’24 vs Oct’23) increased 75.52%.

360T

• Average daily volumes (ADV) at 360T came in at $28.59 billion in October 2024, down 9.1% from September’s $31.46 billion.