Institutional FX Trading Volume Declines in May 2022, Moscow Exchange Slips the Most

The trading volumes of leading institutional FX and ECN platforms in May 2022 have been revealed, generally showing an overall decrease, with only two venues reflecting an increase.

The report covers Average Daily Volume (ADV) of institutional FX trading volumes from seven major venues, namely Cboe FX, CLS, Euronext FX, FxSpotStream, Moscow Exchange, Refinitiv and PrimeXM, as shown in the chart below.

Euronext FX, FxSpotStream, Moscow Exchange, Refinitiv and PrimeXM all reported a decline in average daily FX trading volumes in May versus April, with Cboe FX and CLS reflecting an increase of 6.91 percent and 0.63 percent respectively.

Overall, Moscow Exchange has the biggest percent of MoM decrease of 21.19 percent, followed by PrimeXM with 9.19 percent and Euronext FX with 6.05 percent. FxSpotStream and Refinitiv are showing an decrease of 4.67 percent and 4.90 percent respectively.

The detailing trading volumes for each venues are as follows:

Cboe FX

Cboe FX has reported $39.56 billion ADV, an increase of 6.91 percent compared to $37.01 billion in April 2022.

CLS

The total average daily traded volume submitted to CLS reached $1.87 trillion, an increase of 4 percent compared to May 2021. In addition, on a month-on-month basis, volumes were up 3.7 percent. Spot trades monthly rose 0.6 percent, contributing $478 billion to the total volume.

Euronext FX

Euronext FX's average daily volumes (ADV) was $23.1 billion in May 2022, which represents a decline of 6.1 percent compared to $24.6 billion in April 2022.

FxSpotStream

The average daily volume (ADV) for May came in $58.4 billion, which is an decrease of 4.7% on a monthly basis. On a yearly basis, ADV rose by 23.4% compared to the same period last year.

Moscow Exchange

Moscow Exchange's average daily volumes was $13.91 billion in May 2022, which represents a decline of 21.19 percent compared to April 2022.

Refinitiv

Refinitiv's average daily volumes was $97 billion in May 2022, which represents a decline of 4.9 percent compared to April 2022.

PrimeXM

The total registered volume in May was $1.147.72 trillion across all 4 major Data Centers (LD4, NY4, TY3 and SG1), down 4.87% from $1,206.47 trillion in April. The Average Daily Volume (ADV) in May was $52.17 billion, down 9.19% MoM and up 21.89% YoY.