FXSpotStream, Integral, Hit Second Highest ADV in March

In what was generally a healthy month for FX trading platforms, FXSpotStream and Integral have reported their second busiest months in history in March.

FXSpotStream reports average daily volume (ADV) of $54.7 billion, a 10.3% rise from February and second only to March 2020. Given the spike in volumes in the latter month, year-on-year activity is down at FXSS, by 12.2%

Integral meanwhile, reports ADV of $53.6 billion, driven, the firm suggests, by increased activity on its TrueFX, centrally-cleared spot venue. This is a 6.3% increase from February, but as was the case at FXSS, the year-on-year marker is lower, albeit by only 3.6%. Both FXSS and Integral report ADV across all FX products.

CboeFX also saw a month-on-month rise in March, by 3.2% to $38.3 billion – this represents a 30.9% drop from the existing record month in March 2020. Firm liquidity ADV was $10.52 billion at CboeFX, a slight drop from February of 1.8% and 42.8% down on March 2020. This represents 27.7% of all CboeFX volume, the lowest share since February 2020. The hit rate on CboeFX non-firm liquidity in March was 88.37%, a small rise from 88.26% in February and significantly up from the 81.62% amidst the mayhem of March 2020.

Elsewhere, Deutsche Boerse’s 360T reports spot ADV of $25.5 billion, a fractional increase from $25.3 billion in February 2021 and down 30.9% on what was, again, a record March 2020.

Euronext FX was the only venue to see a drop in activity from February, reporting a 3.2% drop to $21.2 billion. This represents a 47.2% drop from the record high in March 2020.

Multi-product trading venue provider 24 Exchange reports its single counted NDF ADV was $456 million in March, a 44.8% increase from February.