More FX Platforms Report Strong Start to 2026

LSEG, Deutsche Börse and Singapore Exchange have all reported a strong start to 2026 for their FX businesses, following similar data from other trading platforms earlier in the month.

LSEG FX saw average daily volume (ADV) across its spot platforms of $117 billion in January, this is up 21.9% on December and up 18.2% year-on-year. It is also the fourth highest for the firm since March 2020 and the onset of the pandemic. Non-spot volumes at LSEG FX also rose, by 7% from December – and 9.7% year-on-year – to $442 billion per day. This is the second highest yet-recorded by the venue, since it started reporting data as then-Thomson Reuters at the start of 2013, beaten only by September 2025.

There was good news also for Deutsche Börse’s 360T, which reports total FX volumes of EUR 182.7 billion, the highest yet reported for a January, and only 1% lower than December which, as a quarter-end, normally is boosted at 360T. January’s SDV is 17% higher year-on-year.

Earlier in the month, 360T reported spot ADV across its platforms of $40.6 billion, a new record high, and NDF volumes of $2.33 billion. Using a fixed exchange rate The Full FX estimates that non-spot volumes at 360T rose 16.9% on a year-on-year basis.

There was also a positive report from SGX, where the FX futures and options complex hit a new high in terms of total contracts traded (8.3 million) and average daily volume of contracts, 394,000. On an ADV basis, activity is up 7.9% from December and up 6.4% year-on-year – the previous highs in both categories were set in April 2025.

USD/CNH futures led the way as the busiest FX contract, hitting a new record just under 4.5 million contracts. At 212,476 per day, this is up 19.8% from December and up 30% year-on-year. INR FX contracts, SGX’ second-busiest, saw ADV of 142,609, which is slightly down on December, by 6.25%, but up 56% year-on-year.