September FX Volumes Show Mixed Results Globally

September FX Volumes Show Mixed Results Globally

Time Stamp: October 2, 2023 3:50 AM
Source Node: 2912486

According
to the latest data from Cboe FX, Deutsche Börse’s 360T, Euronext FX, and Click
365, institutional investors showed mixed results in spot currency trading in September
2023. While Cboe reported a noticeable increase despite fewer trading days,
volumes in Japan shrank by nearly 17% compared to August 2023.

The
American Cboe FX’s total trading volume in September was higher than in August
despite fewer trading days. The September figure was $952.01 billion, compared
to $944.44 billion reported a month earlier.

With 21
trading days compared to 23 in August, this value led to a significant increase
in average daily volumes (ADV), which rose by over $4 billion to $45.33 billion
from $41.06 billion.

Finance
Magnates reported recently
that Cboe Digital, a subsidiary of Cboe Global Markets, has partnered with
Crossover Markets Group, a digital asset market launched last year by two
former Jefferies directors.

Mixed Bag in Europe and
Asia

Turning
attention outside the US, 360T Deutsche Börse, a leading European institutional
FX trading platform , reported a volume of $585.77 billion over 20 trading days
in September.

This
represents a significant rebound from a sluggish August, where volumes were at
$508 billion but still lower than the July level of $616.6 billion. Finance
Magnates’ calculations indicate that the ADV for this period was $29.29
billion.

Source: 360T

For
Euronext FX, a volume decline from $518 billion to $503 billion was reported in
September. However, this figure was better than the July report, which showed volumes
at $492 billion. The ADV for 21 trading days was $23.95 billion.

Source: Euronext

In Asia,
and specifically with Japan’s Click365 operating under the Tokyo Financial
Exchange (TFX), the volume declines were the most severe. The number of
contracts traded fell by 16.7% month-over-month to 1,917,266. On a yearly
basis, this was a decline of 46.8%.

Research
conducted by BCG Expand confirms the mixed nature of these results. As
they show, revenues from currency operations among the top 100 banks fell by
15% in the first six months of 2023.

If this pattern continues, it could mean a
second revenue decline in three years.

According
to the latest data from Cboe FX, Deutsche Börse’s 360T, Euronext FX, and Click
365, institutional investors showed mixed results in spot currency trading in September
2023. While Cboe reported a noticeable increase despite fewer trading days,
volumes in Japan shrank by nearly 17% compared to August 2023.

The
American Cboe FX’s total trading volume in September was higher than in August
despite fewer trading days. The September figure was $952.01 billion, compared
to $944.44 billion reported a month earlier.

With 21
trading days compared to 23 in August, this value led to a significant increase
in average daily volumes (ADV), which rose by over $4 billion to $45.33 billion
from $41.06 billion.

Finance
Magnates reported recently
that Cboe Digital, a subsidiary of Cboe Global Markets, has partnered with
Crossover Markets Group, a digital asset market launched last year by two
former Jefferies directors.

Mixed Bag in Europe and
Asia

Turning
attention outside the US, 360T Deutsche Börse, a leading European institutional
FX trading platform , reported a volume of $585.77 billion over 20 trading days
in September.

This
represents a significant rebound from a sluggish August, where volumes were at
$508 billion but still lower than the July level of $616.6 billion. Finance
Magnates’ calculations indicate that the ADV for this period was $29.29
billion.

Source: 360T

For
Euronext FX, a volume decline from $518 billion to $503 billion was reported in
September. However, this figure was better than the July report, which showed volumes
at $492 billion. The ADV for 21 trading days was $23.95 billion.

Source: Euronext

In Asia,
and specifically with Japan’s Click365 operating under the Tokyo Financial
Exchange (TFX), the volume declines were the most severe. The number of
contracts traded fell by 16.7% month-over-month to 1,917,266. On a yearly
basis, this was a decline of 46.8%.

Research
conducted by BCG Expand confirms the mixed nature of these results. As
they show, revenues from currency operations among the top 100 banks fell by
15% in the first six months of 2023.

If this pattern continues, it could mean a
second revenue decline in three years.

Time Stamp:

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