Institutional FX volumes flat in May 2022 amid mixed results for ECNs
Following what was a very strong Q1 for the leading institutional eFX players – with some setting volume records – things have slowed down somewhat in Q2, with an April 2022 FX trading slowdown now followed by a fairly flat May.
Overall, trading volumes reported by the leading eFX ECNs were up a slight 0.1% MoM in May 2022, with Cboe FX and 360T seeing a slight (4%-7%) increase while FXSpotStream and EuronextFX a small (5%-6%) decrease.
Cboe FX (formerly HotspotFX)
- May 2022 average daily volumes were $39.56 billion, +6.9% from April’s $37.01 billion.
EuronextFX (formerly FastMatch)
- May 2022 ADV $23.14 billion, -6.0% from April’s ADV of $24.63 billion.
FXSpotStream
- FXSpotStream’s ADV YoY (May’22 vs May‘21) increased 23.36% to USD58.392billion.
- FXSpotStream’s ADV MoM (May‘22 vs April’22) decreased 4.67%.
- FXSpotStream’s Overall Volume YoY (May‘22 vs May‘21) increased 29.23% to USD1.285trillion, the 5th month in a row with supported volume well over 1 Trillion.
- FXSpotStream’s ADV YTD (Jan-May’22) is USD61.298billion, an increase of 22.70% compared to the same period last year.
360T
- Average daily volumes (ADV) at 360T came in at $26.88 billion in May 2022, up 4.3% from April’s $25.76 billion.