Institutional FX trading volumes tick up modest 4% in May 2023
Following a very strong Q1, leading institutional eFX trading venues are seeing a slowdown in trading activity in Q2 2023.
In our monthly survey of forex ECNs, trading activity did tick up by an average of 3.6% in May 2023, but that was following an across-the-board 14% decline in FX trading April.
Each of the leading institutional FX houses reported single digit percent MoM increases in volumes during May, ranging from 0.4% at FXSpotStream to 9.4% at EuronextFX, as follows.
Cboe FX (formerly HotspotFX)
- May 2023 average daily volumes were $40.826 billion, +2.9% from April’s $39.661 billion.
EuronextFX (formerly FastMatch)
- May 2023 ADV $21.55 billion, +9.4% from April’s ADV of $19.69 billion.
FXSpotStream
- May’s ADV was USD55.497billion. This marked an uptick of 0.35% MoM when compared to April 2023.
- FXSpotStream’s ADV YoY (May’23 vs May‘22) decreased 4.96%.
- FXSpotStream’s ADV YTD (Jan-May’23) is USD60.258billion, a decrease of 1.7% compared to the same period last year.
360T
- Average daily volumes (ADV) at 360T came in at $25.810 billion in May 2023, up 1.8% from April’s $25.351 billion.