Institutional FX trading volumes tick up modest 4% in May 2023
Trading activity did tick up by 3.6% in May 2023, but that was following an across-the-board 14% decline in institutional FX trading in April.
Trading activity did tick up by 3.6% in May 2023, but that was following an across-the-board 14% decline in institutional FX trading in April.
April’s volumes include Good Friday (April 7) which was officially a trading day but had naturally very little activity.
Each of the leading institutional FX houses reported increases including FXSpotStream, EuronextFX, Deutsche Borse’s 360T, and Cboe FX.
It was a month of mixed results, with FXSpotStream, EuronextFX and Deutsche Borse’s 360T seeing a slight rise in trading.
Each of Cboe FX, EuronextFX, FXSpotStream and 360T posted activity increases between 5% and 21% as compared to December.
Each of Cboe FX, EuronextFX, FXSpotStream and 360T posted MoM activity declines of between 9% and 16% in December 2022.
October saw FX trading volumes drop by about 9% at leading ECNs, and now November seems to have been another weak month.
Following what was a record month across leading institutional FX venues in September 2022, things slowed somewhat in October.
The Euro and British Pound hit multi-year lows against the US Dollar in September 2022, leading to rising trading volumes.
All the eFX firms surveyed by FNG reported a decline in August of between 3% and 10%, averaging as a group 6.4%.