Initial indications are that June 2020 was another fairly good month for FX trading volumes at some of the leading institutional FX venues.

Each of FXSpotStream, EuronextFX (formerly FastMatch), Cboe FX (formerly HotspotFX) and Integral reported a nice increase in average daily FX trading volumes in June, noting that May was also a strong month for institutional FX trading. The only venue tracked losing ground in June was PrimeXM, where volumes were down 6.2%.

We’d note that April saw a big across-the-board decline in FX trading volumes in both the retail and institutional FX world, after record volumes were seen in March at the height of the market chaos surrounding the Covid-19 crisis. Things have very much settled back down to earth since then – at least as far as the markets go.

We have seen similar (and even better) gains as well so far being reported in the Retail FX world, with June volumes at Saxo Bank up by 13%, and at Exness up 21%. More to come in the coming days, stay tuned to FNG…

PrimeXM

• PrimeXM registered a total of $869.77 billion in monthly trading volume in June across the 3 Data Center locations, a slight fall of 1.68% comparing last month’s trading activities.
• The Average Daily Volume (ADV) in June was $39.54 billion, this represent a 6.15% decrease compared to the ADV of $42.12 billion in May.
• The total number of trades in June was 28.31 million, on a similar level as May of 28.11 million as the trading activities have stabilized after the March peak.
• Data Center in LD4 recorded 71% of overall monthly traded volume, more than $615 billion in notional value. The other 2 major Data Centers in TY3 and NY4 showed similar ADV in June with $128.04 billion and $126.29 billion respectively.
• The instrument with the highest turnover on PrimeXM XCore was XAUUSD with $153.17 billion as the precious metal price continuously climbing to reach new highs in June. EURUSD saw an uptick in transactions with $147.17 billion, a MoM increase of 17% as demand in the FX market remains strong.

FXSpotStream

• June proved to be FXSpotStream’s third highest month ever in terms of ADV at USD $43.287 billion, a 19.88% increase MoM (June ’20 vs May ’20)
• FXSpotStream’s overall volume reached USD $952.323 billion, a 25.59% MoM increase (June ’20 vs May ’20) and an increase of 12.68% YoY (June ’20 vs June ’19)
• FXSpotStream’s ADV YoY (June ’20 vs June ’19) increased 2.44%
• Looking at the first half of the year, FXSpotStream’s 2020 ADV (Jan-June) is USD $43.425 billion, up 18.66% when compared to the same period during 2019 of USD $36.595 billion

Cboe FX (formerly HotspotFX)

• June 2020 total volumes $761.6 billion, or ADV $34.62 billion, +10.3% MoM

Integral

• June 2020 ADV across Integral platforms averaged $35.1 billion, a rise of 7.7% compared to May 2020

EuronextFX (formerly FastMatch)

• Jun 2020 ADV $22.0 billion, +13% MoM over May’s $19.5 billion.