360T Swaps, Integral Volumes Dip; 24X Hits New High

Although there was a drop-off from September, Deutsche Börse’s 360T continues to maintain momentum with its non-spot volumes.

The exchange group says 360T handled EUR 124.2 billion in October, an 11.8% drop from September but still the second highest average daily volume reported by the platform. Year-on-year, ADV is 31% higher.

Using a flat exchange rate for 2022, The Full FX estimates that non-spot volumes were $103.5 billion, an 11.5% drop from September, but up 37.1% year-on-year. Earlier this month the platform reported a 13% drop in spot volumes (+7.2% y-o-y) and a 16.7% drop in NDF activity in October (+95.4% y-o-y).

Integral, which reports results across all FX products, saw a 10.7% drop in ADV from September at $45.7 billion per day. This represents a 9.5% drop year-on-year – the only venue to see an annual drop outside of NDFs.

As flagged by the firm in the last week of October, 24 Exchange set a new peak for NDF trading at $953 million, a 9.3% increase from the previous month and up 85.4% from October 2021.

The releases leave only data from CLS, which normally reports towards the end of the month; and Refinitiv, which normally has already reported by now, to be reported.