LSEG, 360T, SGX FX Volumes Mixed in June

The latest set of FX trading venues to report volumes present a mixed picture, with LSEG FX and 360T seeing rises, and SGX a dip from May.

LSEG says spot average daily volume (ADV) across its platforms was $111 billion in June, up just $1 billion per day on May, but up 4.7% year-on-year and broadly in line with the firm’s year-to-date average. Non-spot FX volumes across the LSEG platforms also rose, by 5% from May to $423 billon per day, this is up 7.1% year-on-year.

Having already unveiled a rise in spot volumes, Deutsche Börse’s 360T says it handled EUR 174.7 billion across all FX products in June, up 11.9% from May and up 6.1% year-on-year. This is the fourth highest reported by the group and the third highest this year. Using a fixed exchange rate, non-spot volumes at 360T were $145.2 billion in June, and given the platform saw a dip in NDF activity, this suggests that FX swaps and outrights rose some 14% from May and 4.9% year-on-year.

Singapore Exchange meanwhile, saw a drift lower in FX activity in its futures and options suite, the group reporting total volume of just short of 6.7 million contracts. This is down 8% from May, but is up an impressive 49.5% year-on-year. On an average daily volume basis, Fx futures and options volume at SGX was 319,000 contracts, down 12.4% from May and up 42.4% year-on-year.

CNH futures remain comfortably SGX’ biggest FX contract, total volume was 3.625 million, which is down 2.7% from May but up 45% year-on-year. The exchange’s second busiest contract, INR, saw total volume of over 2,538 million contracts, down 17.9% on May and up 39% year-on-year.

SGX also gave one of its occasional insights into its OTC FX business, reporting that its platforms handled “about” $143 billion per day in all FX products. SGX says this is up 28% year-on-year. The last such update from the group reported that ADV in OTC FX was $129.7 billion for the whole of 2024, as such June is just over 10% higher than that mark.