Following a fairly strong start to the year in January, institutional FX trading at leading ECNs and multibank FX streaming services took a step back in February.

Average daily trading volumes at leading institutional eFX venues surveyed by FNG decreased by just over 3% in February 2024, with each of FXSpotStream, Cboe FX, 360T, and EuronextFX reporting activity declines ranging from 1.8% to 5.3% during the month.

Cboe FX (formerly HotspotFX)

• February 2024 average daily volumes were $42.626 billion, -2.3% from January’s $43.629 billion.

EuronextFX (formerly FastMatch)

• February 2024 ADV $23.608 billion, -5.3% from January’s ADV of $24.933 billion.

FXSpotStream

• February’s Total ADV for FXSpotStream was USD72.327billion, with Spot ADV of USD51.828billion and Other ADV of USD20.499billion.
• FXSpotStream’s Total ADV MoM (Feb’24 vs Jan’24) decreased 1.79%, following a record month in January.
• FXSpotStream’s Total ADV YoY (Feb’24 vs Feb’23) increased 15.07%.
• FXSpotStream’s Spot ADV MoM (Feb’24 vs Jan’24) decreased 5.31%.
• FXSpotStream’s Spot ADV YoY (Feb’24 vs Feb’23) increased 3.43%.
• FXSpotStream’s Other ADV MoM (Feb’24 vs Jan’24) increased 8.41%.
• FXSpotStream’s Other ADV YoY (Feb’24 vs Feb’23) increased 60.82%.

360T

• Average daily volumes (ADV) at 360T came in at $27.614 billion in February 2024, down 4.0% from January’s $28.758 billion.