360T Hits New FX Volume High as LSEG Also on the Up

Deutsche Börse’s 360T has hit another new peak in FX volume at a quarter-end, while LSEG’s FX business has recorded its third highest volume ever in non-spot products.

360T reports average daily volume (ADV) of EUR 164.7 billion, up 18.3% from May and up 27.9% year-on-year – it is also more than 10% above its previous high-water mark, set in March 2024.

Earlier this month, 360T breached the $30 billion per-day mark in spot volumes for only the second time in its history, using a fixed exchange, The Full FX estimates that non-spot volumes on 360T rose 19% from May and are up 30.1% year-on-year. Also earlier this month, the platform reported a $250 million per-day increase in NDF volumes as it broke through the $2 billion barrier in that product for the first time.

Also having a good month in June was LSEG FX, which reports spot ADV of $106 billion across its platforms, the highest since September 2022. This is a 14% rise from May, which makes it one of the better month-on-month performers amongst the platforms (CME aside, which was boosted by a roll month), and is up 7.1% year-on-year, which, paradoxically, makes LSEG FX a slight under-performer on an annual basis.

Non-spot volumes at LSEG FX’ platforms also surged in June, hitting the third highest level since the platform started reporting in 2011 at $395 billion, beaten only by January 2021 ($397 billion) and March 2020 ($399 billion). This represents a 9.1% rise from May and is up 12.2% year-on-year.