360T Hits New FX Volume Peak, Thanks to FX Swaps
Posted by Colin Lambert. Last updated: May 15, 2022
Deutsche Boerse’s 360T has recorded a second new high in average daily FX activity, with the exchange group reporting it handled EUR 121.3 billion per day in April. This represents a 2.4% increase from March, which was itself a new high for the platform.
Earlier this month 360T reported a 9.5% decrease in spot FX volume as well as a 17.9% decline in NDF activity, meaning the increase is likely to be exclusively in the FX swaps space, where the platform is making a push with its Mid-Match product.
Using a flat exchange rate for the year, activity hit EUR 98.9 billion in non-spot daily volume (NDF ADV was $924 million in April), beating the previous high, also set in March, by 5.7%. 360T has now set six consecutive months of ADV above EUR 100 billion – the first time it has done so in its history.
Separately, Integral reports ADV across all FX products of $49.8 billion in April, down 13.1% from March, but up 15% year-on-year, while 24Exchange’s NDF volumes were $559 million per day, down 9.1% from March but up 35.3% year-on-year.
