FXSS, SGX, 360T, FX Volumes Follow Trend

After two successive record months, FXSpotStream saw activity cool off in November, as was the case with most other platforms to report data, elsewhere, 360T and SGX activity held steady.

FXSpotStream says total average daily volume (ADV) was $125 billion in November, the third highest in the service’s history, but off 3.5% from October. Year-to-date, activity is sharply higher, however, by 24.6%. Spot ADV was $83.35 billion, down 2.6% from October, but up 15.3% year-on-year, while non-spot activity was $41.65 billion, down 5.3% month-on-month, but up 48.75% on the year.

Deutshce Börse reports total 360T volume across all products was EUR 172.1 billion, just 0.2% lower than October and up 14.8% year-on-year. Using a fixed exchange rate, The Full FX estimates that non-spot volume was also down 0.2% at $142.6 billion, but up 16.5% year-on-year. Earlier in the month, the platform reported ADV in NDFs of $2.08 billion, up 6% from October and up 20% year-on-year.

SGX, meanwhile, reports FX trading volumes, in contract terms, of 6.118 million in November. While this is down 9.1% on an absolute basis, in average daily volume terms it is unchanged from October. Equally while total volume is unchanged year-on-year, in average daily volume terms it is up 5%.

USD/CNH, SGX’ biggest FX futures contract, saw ADV of 155,661 contracts, up 4.7% on October, but down 14.3% year-on-year. The reverse was the case with the second busiest, USD/INR, which had ADV of 120,745 in November, down 5.5% from October, but up 50.4% year-on-year.