FX Volumes Bounce Back in September

After a quiet August, FX volumes bounced back nicely in September according to the first group of platforms to report results.

FXSpotStream says it handled $48.35 billion per day during September, a 16.9% bounceback from August and also up 10.8% year-on-year. Intergal, meanwhile, reports ADV of $44.9 billion per day, a 1.6% increase from August (a month in which the platform did not see a dip unlike many of its peers), and up 9.5% year-on-year. Both platforms report volume data across all FX products.

Of those reporting spot data only, CboeFX handled $34.3 billion per day, an 18.7% increase from August and up 7.5% year-on-year. Firm liquidity on the venue was a fraction over $10 billion per day, up 23% from August, but down 6.6% year-on-year – this represents just over 29.3% of all spot volume on CboeFX, up from August but down from September 2020. The non-firm fill rate on the platform also dipped slightly from August, to 89.2% from 89.62%, but remains significantly above September 2020’s 86.4%.

Deutsche Boerse’s 360T also saw a strong rebound, as did Euronext FX. 360T spot ADV was 22.6 billion, up 18.3% from August but down fractionally, by 1.3% year-on-year. Euronext FX ADV was $18.5 billion, up 17.1% month-on-month, but down 13.1% from September 2020.