EBS FX Volumes Hits New Low: Integral Bucks Trend

FX volume data released by CME Group show spot FX trading volume at EBS fell to the lowest level since the platform started reporting average daily volume data in 2007 – and in all probably for a long period before that.

ADV on EBS was $47.6 billion per day, a 17.1% decline from July and a 22.2% fall year-on-year. The lowest previous ADV was $56.4 billion in May 2020. Although the headline number will been seen as something of a shock, it should be noted that most other FX platforms to report data thus far for August also showed double-digit percentage declines from July, however again, the EBS decline is slightly steeper.

As if reinforcing the general decline in FX activity during the. Month, EBS’ parent organisation, CME Group, reported notional ADV of $58 billion across its futures and options product sets, this is also a 17.1% decline month-on-month, as well as an 18% fall from August 2020.

Elsewhere, Integral has somehow managed to buck the trend of declining FX volumes. The firm reports aggregated ADV of $44.2 billion across its liquidity network in August, a rise of $200 million per day from July, and up 11% year-on-year. This data also represents all FX products, not just spot.