Institutional FX trading volumes down a seasonal 16% in December 2021
Leading institutional FX trading venues ended what was overall a fairly strong 2021 with a seasonally slow December, with trading down 16% MoM from November. But again, December is typically a slow month with a regular number of trading days, but lower volumes traded during the second half of the month in “holiday season”.
Each of the institutional ECNs surveyed – FXSpotStream, Cboe FX, EuronextFX and 360T – reported a month-over-month volume drop of between 12-17%. However when we look at the data available on a daily basis, the first half of December was basically on par with what was an active November for institutional FX trading.
Cboe FX (formerly HotspotFX)
- December 2021 average daily volumes were $29.61 billion, -16.1% from November’s $35.30 billion.
EuronextFX (formerly FastMatch)
- December 2021 ADV $17.71 billion, -16.4% below November’s ADV of $21.19 billion.
FXSpotStream
- FXSpotStream’s ADV YoY (December ‘21 vs December ‘20) increased 0.25% to USD42.894billion resulting in a YoY increase every month in 2021 except one.
- FXSpotStream’s ADV MoM (December ‘21 vs November ‘21) decreased 16.77% to USD42.894billion, following our 3rd highest ever ADV in Nov ’21.
- FXSpotStream’s Overall Volume YoY (December ‘21 vs December ‘20) increased 4.81% to USD986.560billion.
- FXSpotStream’s ADV for the year 2021 (2021 vs 2020) increased 13.48% to USD48.397billion when compared to the same period last year.
- FXSpotStream Overall Volume YoY (2021 vs 2020) increased 13.48% to USD12.583trillion, crossing the USD12trillion mark for the first time in company history.
360T
- Average daily volumes (ADV) at 360T came in at $21.24 billion in December, down 12.8% from November’s $24.37 billion.