After a fairly strong start to the year in January, institutional FX trading on leading ECNs and multi-bank FX streaming services took a step back in February.
Average daily trading volume at top institutional eFX venues surveyed by FNG fell by just over 3% in February 2024, with benchmarks FXSpotStream, Cboe FX, 360T and EuronextFX each down 1.8% up to 5.3% during the month.
Cboe FX (formerly HotspotFX)
- Average daily volumes for February 2024 were $42.626 billion, -2.3% from $43.629 billion in January.
EuronextFX (formerly FastMatch)
- February 2024 ADV $23.608 billion, -5.3% from January ADV of $24.933 billion.
FXSpotStream
- February’s Total ADV for FXSpotStream was $72.327 billionwith Spot ADV of USD 51.828 billion and Other ADV of USD 20.499 billion.
- FXSpotStream Total ADV MoM (Feb 24 vs Jan 24) decreased 1.79%after a record month in January.
- FXSpotStream’s year-to-date total ADV (Feb 24 vs Feb 23) increased 15.07%.
- FXSpotStream’s Spot ADV MoM (Feb 24 vs Jan 24) is down 5.31%.
- FXSpotStream’s YTD Spot ADV (Feb 24 vs Feb 23) rose 3.43%.
- FXSpotStream’s Other ADV MoM (Feb 24 vs Jan 24) rose 8.41%.
- FXSpotStream’s YTD Other ADV (Feb 24 vs Feb 23) is up 60.82%.
360T
- The average daily volume (ADV) at 360 T was reached 27.614 billion dollars in February 2024, down 4.0% from $28.758 billion in January.