FXSpotStream, CME, EBS Volumes Tick Higher in October

Largely in keeping with the first set of volume data released for October, three other venues have reported an uptick in FX activity from September.

FXSpotStream, which reports activity in all FX products, not just spot, has breached the $50 billion level for the third time in its history, reporting average daily volume of $50.5 billion. This is up 4.3% from September and an impressive 29.8% year-on-year increase, by far the largest reported by a platform this month. Only March 2020 and 2021 have been busier months the for the service, which recently launched algos and allocations.

The news at CME Group was more subdued, however EBS saw a small uptick in spot FX activity from September, rising to $58.5 billion from $58.2 billion. Year-on-year, however, EBS ADV is lower, by 5.2%. CME’s FX futures and options product suite meanwhile, reported 720,000 contracts per day traded, for a notional of $67 billion per day. Due to the move from a roll month to non-roll month, activity is down 29.1% from September, more pertinent is the year-on-year data, where CME saw a 2% increase. The Merc says that FX options activity rose by 27%, year-on-year.

Elsewhere, 24Exchange confirmed that October was a busier month for NDF trading – the platform reporting ADV of $514 million, a 30.5% increase from September and the highest yet reported by the platform.