Institutional FX trading volumes soar 22% in September 2022 as currency volatility peaks
The heavy volatility which hit the FX markets in September may have been good for some traders and bad for others, but it looks like it made for a fantastic month for the leading institutional FX trading venues.
As the Euro and British Pound hit multi-year lows against the US Dollar against a backdrop of rising inflation, increased government deficits, and continued uncertainty in Europe from the war in Ukraine, currency traders and those looking to hedge currency exposures were extremely active, meaning record or near-record activity at FX ECNs.
Overall, the leading institutional FX ECNs surveyed by FNG – Cboe FX, EuronextFX, FXSpotStream, and Deutsche Borse’s 360T – saw trading volumes rise by an average of 22% in September, with all the aforementioned firms seeing increases MoM of at least 19%.
Cboe FX (formerly HotspotFX)
- September 2022 average daily volumes were $45.83 billion, +23.3% from August’s $37.17 billion.
EuronextFX (formerly FastMatch)
- September 2022 ADV $24.22 billion, +23.1% from August’s ADV of $19.67 billion.
FXSpotStream
- September proved to be a record month for FXSpotStream in terms of monthly ADV at USD73.351billion.
- FXSpotStream’s ADV MoM (September‘22 vs August’22) increased 20.45%.
- FXSpotStream’s ADV YoY (September ‘22 vs September ‘21) increased 51.7%.
- FXSpotStream’s Overall Volume YoY (September ‘22 vs September ‘21) increased 51.7% to USD1.613trillion, the highest ever on the Service.
- FXSpotStream’s ADV YTD (Jan-Sep ’22) is USD63.192billion, an increase of 30.37% compared to the same period last year.
360T
- Average daily volumes (ADV) at 360T came in at $27.38 billion in September 2022, up 19.3% from August’s $22.95 billion.