Institutional FX volumes pick up 8% with strong September
The institutional FX sector headed into the typically busier fall trading season in strong fashion, with all the leading FX ECNs showing an increase in trading volumes during September.
The pickup in volumes started in late August with increased volatility in the key EURUSD currency pair. That trend continued into September and expanded into GBP volatility as well for much of the month.
Overall, average daily volumes were up an average of 8% MoM at leading institutional FX platforms, with Cboe FX and EuronextFX showing double digit percent gains, and FXSpotStream and Integral single digit increases, as follows:
Cboe FX (formerly HotspotFX)
- September 2020 total volumes $703 billion, or ADV $31.95 billion, +11.3% MoM
EuronextFX (formerly FastMatch)
- September 2020 ADV $21.3 billion, + 12.7% over August’s ADV $18.9 billion.
- FXSpotStream’s ADV $43.7 billion, MoM (Sep ’20 vs Aug ’20) increased +6.17%
- FXSpotStream’s ADV YoY (Sep’19 vs Sep’20) increased 17.02%
- FXSpotStream’s 2020 ADV (Jan-Sep) of USD42.857billion, is up 14.62% when compared to the same period during 2019 of USD37.392 billion
- September registers as the fourth consecutive month with an ADV over USD40billion, the first time this has been achieved by FXSpotStream.
- Average daily volumes (ADV) across Integral platforms totaled $41 billion in September 2020. This represents an increase of +3% compared to August 2020, and an increase of 9.9% compared to the same period in 2019.