Institutional Spot FX Trading Volumes Continue to Grow in April 2024, Max. Growth Hits 13.7%

The institutional spot FX trading volumes of major platforms continued the growing trend across April 2024. The average m-o-m comparison is up 9.33% based on what the six major institutions posted, which include Cboe FX, Euronext FX, FxSpotStream, 360T, CME EBS and Saxo Bank. The trading volume details of each are as follows:

Cboe FX

In April 2024, Cboe FX's spot ADV increased from US$46.03 billion in March to US$50.02 billion, a 8.67% increase. The year-on-year comparison shows a 26.12% rise from US$48.35 billion of April 2023.

According to Cboe, the spot ADV is the second-best month behind March 2020. Specifically, the Spot Full Amount ADNV reached a new record of $15.1 billion.

Euronext FX

In April 2024, Euronext FX's spot ADV increased from US$25.68 billion in March to US$28.67 billion, the m-o-m increase is 11.64%. The year-on-year comparison shows a 45.61% rise from US$22.66 billion of April 2023.

Trading volume of Euronext FX totaled $630,803 milliion for the month, an increase of 17.0% compared to $539,173 million in the prior month and soaring 60.2% compared to $393,853 million in the prior year period.

FxSpotStream

In April 2024, FxSpotStream's spot ADV increased from US$58.18 billion in March to US$66.15 billion, up 13.70%. The year-on-year comparison shows a 48.99% rise from US$54.05 billion of April 2023.

The Other ADV category of FxSpotStream also experienced growth, with a 5.48% increase month-on-month and an impressive 136.01% increase year-over-year, reaching USD 25.730 billion. These figures are based on 22 trading days in April.

360T

In April 2024, 360T's spot ADV increased from US$29.55 billion in March to US$29.76 billion, a 0.71% m-o-m rise. The year-on-year comparison shows a 27.45% rise from US$27.92 billion of April 2023.

CME EBS

In April 2024, CME EBS's spot ADV increased from US$54.9 billion in March to US$61.2 billion, up 11.48%. The year-on-year comparison shows a 15.69% rise from US$68 billion in April 2023.

Saxo Bank

In April 2024, Saxo Bank's spot ADV increased from US$4.1 billion in March to US$4.5 billion, up 9.76%. The year-on-year comparison, on the other hand, shows a -11.76% decline from US$6.8 billion in April 2023.

FX trading volume of this bank in April increased 17 percent on a monthly basis to $99.3 billion, while fixed income trading dipped 3 percent to $9.0 billion.