FX Volumes Tick Higher in January
Posted by Colin Lambert. Last updated: February 2, 2023
The first group of platforms to report FX volume data indicate while activity naturally rose from December, it was also mainly up year-on-year.
360T says its average daily volume (ADV) in spot only was $24.8 billion per day in January, a 6.4% increase from December and up 9.3% year-on-year. Euronext FX, meanwhile, reports ADV of $19.6 billion, a 4.3% rise from December, down 12.1% from January 2022.
Elsewhere, FXSpotStream, which reports data across all FX products, had ADV of $60.6 billion, up 5.2% from December and up 14.2% year-on-year.
CboeFX ADV was $41 billion, an 11.4% rise from December and up 12% year-on-year. Firm liquidity at CboeFX was $12.94 billion per day, up 28.6% from December (which was the quietest month for firm liquidity on the platform since December 2021), but also up 10.8% year-on-year. This represents 31.5% of all trading volume, the highest since August 2022. 93% of volume on the firm’s venues was anonymous, the average fill rate was 87% – both are very much in line with the average over the past six months – while the average response times was 9ms.