Institutional Spot FX Trading Volume Bounces Back in June, Avg. M-o-M Up 10.33%

The institutional spot FX trading volumes of major platforms stopped falling throughout June 2024. The average m-o-m comparison is up 10.33% based on what the six major institutions posted, which include Cboe FX, Euronext FX, FxSpotStream, 360T, CME EBS and Saxo Bank. The max. rise comes from 360T, which is 14.65%. The trading volume details of each are as follows:

Cboe FX

In June 2024, Cboe FX's spot ADV increased from US$42.21 billion in May to US$47.51 billion, a 12.56% increase. The year-on-year comparison shows a 8.27% rise from US$43.88 billion of June 2023.

Last month, Cboe Clear Europe achieved a monthly market share record of 47% on venues that support interoperable clearing arrangements, beating the previous high of 46% set in April 2024.

Euronext FX

In June 2024, Euronext FX's spot ADV increased from US$25.84 billion in May to US$27.93 billion, the m-o-m increase is 8.09%. The year-on-year comparison shows a 19.46% rise from US$23.38 billion of June 2023.

Euronext announced on June 19 updates to the Euronext Global Exchange Market (Euronext GEM Debt) Rulebook for debt securities, and the successful launch of the MyEuronext Portal for debt listing agents and issuers.

FxSpotStream

In June 2024, FxSpotStream's spot ADV increased from US$62.43 billion in May to US$68.76 billion, up 10.14%. The year-on-year comparison shows a 39.36% rise from US$49.34 billion of June 2023.

Similarly, other ADV skyrocketed by 85% year-over-year, rising from USD $24 billion to USD $26 billion.

This robust performance contributed to FXSpotStream's total ADV reaching USD $94.8 billion for the month, marking a significant 9.7% increase from May's USD $86.4 billion.

360T

In June 2024, 360T's spot ADV increased from US$26.34 billion in May to US$30.2 billion, a 14.65% m-o-m rise. The year-on-year comparison shows a 12.39% rise from US$26.87 billion of June 2023.

CME EBS

In June 2024, CME EBS's spot ADV increased from US$53.5 billion in May to US$57.6 billion, up 7.66%. The year-on-year comparison shows a 0.86% drop from US$58.1 billion of June 2023.

Saxo Bank

In June 2024, Saxo Bank's spot ADV increased from US$3.5 billion in May to US$3.9 billion, up 11.43%. The year-on-year comparison shows a 27.78% decline from US$5.4 billion of June 2023.

Saxo Bank has reported a 4% decrease in client trading volumes for June 2024, amounting to $371.6 billion. This decline follows a significant 20% drop in May, continuing a trend that has seen core FX trading volumes reach multi-year lows at $78.1 billion. Despite equity trading remaining steady at $242 billion, commodities and fixed income trading experienced notable declines of 26% and 11%, respectively.