Institutional FX Trading Volume Witnesses Overall Drop in July, Only FxSpotStream Reports Slight Increase

The trading volumes of leading institutional FX and ECN platforms in July 2022 have been revealed, generally showing an overall decrease, with only one venue reflecting a slight increase.

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

Cboe FX, CLS, Euronext FX, Moscow Exchange, Refinitiv, Integral and PrimeXM all reported a decrease in average daily FX trading volumes in July 2022 versus June, with FxSpotStream reflecting a slight increase of 0.32 percent.

Overall, Euronext FX has the biggest percent of MoM decrease of 7.7 percent, followed by CLS and Refinitiv with 6.18 percent and 3.92 percent. Cboe FX, PrimeXM, Integral and Moscow Exchange are showing a MoM decline of 3.81 percent, 3.11 percent, 0.41 percent and 1.55 percent respectively.

The detailing trading volumes for each venues are as follows:

Cboe FX

Cboe FX registered a total volume of $801.9 billion, a month-over-month decline of 8.2 percent compared to $873.7 billion in June 2022. On a yearly basis, the FX trading demand increased by 11.4 percent.

The Average daily volume (ADV) for the month reached $38.2 billion, 3.8 percent lower compared to $39.7 billion in the previous month.

CLS

The total average daily traded volume submitted to CLS reached $1.879 trillion, an increase of 8 percent compared to July 2021. Spot trades monthly declined 6 percent, contributing $471 billion to the total volume.

Euronext FX

Euronext's FX volume for July came in at $449.9 billion, which is a decline of 11.8% percent compared to the prior month's $510.1 billion. 

The average daily volume (ADV) for the forex market in July was $21.4 billion, another decline on a monthly basis of 7,6 percent compared with June's number of $23.2 billion. On a yearly basis, the ADV FX volume increased by 17.9 percent from $18.2 billion in the same period last year.

FxSpotStream

FxSpotStream's total trading volumes in July came in at $1.34 trillion, compared with June's $1.404 trillion. Average Daily Volume (ADV) up by 0.1 percent to $64.04 billion compared to June's $63.84 billion, and it strengthened by 33.7 percent on a YoY basis.

Moscow Exchange

Moscow Exchange's average daily volumes was $12.7 billion in July 2022, which represents a decline of 1.55 percent compared to June 2022.

Refinitiv

Refinitiv's average daily volumes was $98 billion in July 2022, which represents a decline of 3.92 percent compared to June 2022.

Integral

The average daily volumes (ADV) across Integral platforms totaled $48.8 billion in July 2022. This represents a decrease of 0.4% compared with $49 billion in June 2022 and an increase of 10.9% compared to the same period in 2021.

PrimeXM

In July, PrimeXM's total registered volume was at $1,086.62 billion​ across all 4 Data Centres (LD4, NY4, TY3 and SG1). The Average Daily Volume (ADV) was $51.74 billion, which is a decline on MoM basis with -3.10% and +4.52% YoY increase compared the same period last year.