FX Volumes Tick Higher in June

FX volumes were higher month-on-month in June according to the first group of platforms to report data, but with two exceptions, were down year-on-year.

FXSpotStream, which recently went live with support for algos and allocations, reports average daily volume across all FX products of $49.1 billion in June, a 3.8% increase from May and, uniquely in the first reporting group, a rise year-on-year, of 13.4%.

Cboe FX had a second successive month of increased ADV, reporting $33.4 billion per day in spot FX, up 2.8% from May, but down 3.5% year-on-year. Firm liquidity on Cboe FX was $9.48 billion per day, a slight drop from May’s $9.75 billion, meaning firm liquidity made up 28.4% of all trading on the firm’s venues. In June 2020, ADV for firm liquidity was $10.92 billion and 31.6% of all volume. The non-firm daily fill rate on Cboe FX was 88.97%, the highest yet recorded by the platform since it started published extra metrics in January 2020. In May the fill rate was 88.2% and in June 2020 it was 84.87%.

Deutsche Borse’s 360T reports spot ADV of $22 billion, a 2.8% increase from May, but down 7.6% year-on-year. Elsewhere, Euronext FX also saw a monthly uptick, of 4.3% to $19.4 billion per day, year-on-year, this is down 11.8%.

Integral, meanwhile, reports ADV in all FX products of $51 billion, an 8.7% month-on-month increase and up an impressive 45.3% up on June 2020.