FX Volumes Remain Subdued in May
Posted by Colin Lambert. Last updated: June 2, 2021
The first group of platforms to release volume data for May indicate activity was broadly steady compared to April, which was the slowest month of 2021 thus far.
CboeFX reports average daily volume of $32.5 billion in May, a 5.5% increase from April and up 3.5% year-on-year. ADV on firm liquidity at CboeFX was $9.75 billion, which is 41% of ECN volume at the firm and 30% of all spot FX activity. The non-firm fill rate for the month was 88.2%, fractionally down on April’s 88.64%.
Elsewhere, 360T says it handled $21.4 billion per day in May, a 1.9% increase from April and 8.1% up from May 2020; while Euronext FX reports ADV of $18.6 billion, up 3.9% month-on-month but down 4.6% from May 2020.
FXSpotStream, meanwhile, has reported ADV of $47.3 billion, a month-on-month decline of 2.9%, but a year-on-year increase of 31% year-on-year. Unlike the other three platforms FXSpotStream reports ADV in all FX products.