Institutional FX Trading Volume Witnessed Overall Rise in June 2023

The trading volumes of leading institutional FX and ECN platforms in June 2023 have been revealed, generally showing an overall rise. 

The report covers Average Daily Volume (ADV) of institutional FX trading volumes from six major venues, namely Cboe FX, CLS, Euronext FX, FxSpotStream, Refinitiv and 360T, as shown in the chart below.

All the six companies reported an increase in average daily FX trading volumes in June 2023 versus the prior month. Overall, FxSpotStream has the biggest percent of MoM increase of 13.5 percent, followed by Refinitiv and CLS with 10 percent and 9 percent. Euronext FX and Cboe FX are showing a MoM rise of 8.5 percent and 7.5 percent respectively. 360T witnessed a 4,3 percent increase in average daily FX trading volumes.

The detailing trading volumes for each venues are as follows:

Cboe FX

Cboe Spot reported a total trading volume of $965,352 million for the month, compared to $938,994 million in May 2023. The Average Daily Volume (ADV) for June 2023 reached $43,880 million, up 7.5 percent compared to $40,826 million in the prior month.

CLS

In June 2023, CLS saw average daily traded volumes of USD2.07 trillion, an increase of 4.4 percent compared to June 2022. Over the same period, FX forward volumes were up significantly by 34.3 percent, FX swap volumes increased by 5.1 percent, while FX spot volumes decreased by 5.3 percent to $476 billion, increasing 9 percent compared to the last month.

Euronext FX

Total volume of Euronext's FX for the month recorded $514,253 million, an increase of 3.8% compared to $495,630 million in May 2023 and an increase of 0.8% compared to $510,089 million in June 2022.

ADV of Euronext FX came in at $23,375 million, 8.5% higher than $21,549 million in the prior month and 0.8% higher than $23,186 million in the same period of last year.

FxSpotStream

Total volume for June came in at $1.39 trillion​, increasing from $1.28 trillion in the prior month. Regarding the average daily volume (ADV), the figure was approximately $63 billion, rising by 13.5 percent from $55.5 billion in May.

Refinitiv

Refinitiv recorded the average daily trading volumes (ADV) of $448 billion for the month on its main FX trading services.

Refinitiv' Spot FX volumes came in at $99 billion, 10 percent higher than $90 billion in May 2023 and lower than $102 billion in Jun 2022.

360T

360T's average daily volume was $26.9 billion in June 2023, which represents an increase of 4.3 percent compared to $25.8 billion in May 2023.