Institutional FX trading is off to a good start in 2024, with January average daily trading volumes across leading eFX ECNs up more than 4% MoM from a fairly strong December.
Three of the four ECNs surveyed by FNG – FXSpotStream, 360T and EuronextFX – recorded volume increases during January, which included the best month for FXSpotStream. Only Cboe FX saw a slight decline (2%) in volumes.
Cboe FX (formerly HotspotFX)
- Average daily volumes for January 2024 were $43.629 billion, -2.0% from December’s $44.523 billion.
EuronextFX (formerly FastMatch)
- January 2024 ADV $24.933 billion, +1.8% from ADV of December 24.481 billion
FXSpotStream
- January’s Total ADV was a record ADV for FXSpotStream at $73.645 billionwith Spot ADV of USD 54.737 billion and Other ADV of USD 18.902 billion.
- FXSpotStream’s Total ADV MoM (Jan 24 vs Dec 23) increased 13.64%.
- FXSpotStream’s total year-to-date ADV (Jan 24 vs Jan 23) increased 21.59%.
- FXSpotStream’s Spot ADV MoM (Jan 24 vs Dec 23) is up 11.23%.
- FXSpotStream’s YTD Spot ADV (Jan 24 vs Jan 23) is up 10.22%.
- FXSpotStream’s Other ADV MoM (Jan 24 vs Dec 23) is up 21.24%.
- FXSpotStream’s YTD Other ADV (Jan 24 vs Jan 23) is up 73.35%.
360T
- The average daily volume (ADV) at 360 T was reached 28.758 billion dollars in January 2024, 3.9% increase from December’s $27.688 billion.