Institutional FX trading volumes hit summer slowdown, August -7%
Following a strong start to the second half of the year in July, institutional FX trading slowed somewhat across the board in August 2023, with a decrease averaging 7.2% in daily trading volumes at leading eFX players.
Each of the leading institutional FX venues surveyed by FNG including FXSpotStream, Cboe FX, EuronextFX and 360T saw a month-over-month decrease in activity during August 2023, as low currency volatility combined with traditional summer break to help keep things quiet.
Cboe FX (formerly HotspotFX)
- August 2023 average daily volumes were $41.062 billion, -6.5% from July’s $43.923 billion.
EuronextFX (formerly FastMatch)
- August 2023 ADV $22.503 billion, +4.0% from July’s ADV of $23.441 billion.
FXSpotStream
- August’s Total ADV was USD60.750billion, with Spot ADV of USD48.037billion and Other ADV of USD12.713billion.
- FXSpotStream’s Total ADV MoM (Aug’23 vs July’23) decreased 6.63%.
- FXSpotStream’s Total ADV YoY (Aug’23 vs Aug‘22) decreased 0.24%.
- FXSpotStream’s Spot ADV MoM (Aug’23 vs July’23) decreased 8.53%.
- FXSpotStream’s Spot ADV YoY (Aug’23 vs Aug‘22) increased 1.43%.
- FXSpotStream’s Other ADV MoM (Aug’23 vs July’23) increased 1.33%.
- FXSpotStream’s Other ADV YoY (Aug’23 vs Aug‘22) decreased 6.09%.
360T
- Average daily volumes (ADV) at 360T came in at $25.719 billion in August 2023, down 11.8% from July’s $29.173 billion.