360T Hits New Volume High, LSEG FX Steady, In December
Posted by Colin Lambert. Last updated: January 15, 2025
It was a very positive end to the year for Deutsche Börse’s 360T, with the platform reporting its highest-ever average daily volume (ADV) across all FX products.
360T says it handled EUR 176.9 billion in December, and while it regularly sees a quarter-end bounce, this is 7.4% higher than the previous high, set in June 2024. On a month-on-month basis it is up 18% and year-on-year an even-more respectable 25.5%.
The growth was exclusively in non-spot products, suggesting quarterly rolls were a big part of the surge, as earlier in the month the platform reported a 7% drop in spot volumes from November and a modest 1% gain from December 2023. NDF volumes were up just over $300 million per day to just over $2 billion.
Using a fixed exchange rate, The Full FX estimates that FX swaps volumes were just under $150 billion per day, total non-spot volume rose 23.6% from November and was up 30.8% year-on-year.
Elsewhere, LSEG FX reports spot ADV of $98 billion across its platforms, a 5.8% drop from November, and down 1% year-on-year. This represents a lower drop than those seen in EBS’ spot and CME Group’s FX futures and options volumes, reported earlier this month.
Non-spot volumes at LSEG FX were $389 billion per day across Matching and FXall, this is a 1% rise from November and is nicely up by 17.2% year-on-year.