Institutional Spot FX Trading Volumes in February 2024 Show Downward Trend, Only One Sees Slight Increase

The institutional spot FX trading volumes of major platforms saw a trend of decline across February 2024. The average m-o-m comparison is -6.58% based on what the six major institutions posted. Month-on-month declines of spot average daily volume are observed by Cboe FX, Euronext FX, FxSpotStream, CME EBS and Saxo Bank. 360T is only exception with very small increase. The trading volume details of each are as follows:

Cboe FX

In February 2024, Cboe FX's spot ADV decreased from US$43.63 billion in January to US$42.63 billion, a 2.29% decrease, but the year-on-year comparison shows a 1.74% rise from US$41.9 billion of February 2023.

Global FX ADV for the month totaled $43.63 billion, 1.5% higher than $42.99 billion in the year-ago month and 2.6% lower than $44.82 billion in the prior month.

Euronext FX

In February 2024, Euronext FX's spot ADV decreased from US$24.93 billion in January to US$23.61 billion, the m-o-m decrease is 5.29%. The year-on-year comparison shows a 14.56% rise from US$20.61 billion of February 2023.

Trading volume of Euronext FX reported of $495,776 million for February 2024, 9.6% lower than $548,523 million in the prior month and 20.3% higher than $412,193 million in the same period of 2023.

FxSpotStream

In February 2024, FxSpotStream's spot ADV decreased from US$54.74 billion in January to US$51.83 billion, down 5.32%. The year-on-year comparison shows a 3.43% rise from US$50.11 billion of February 2023.

The average daily volume (ADV) for spot transactions on FXSpotStream in February came in at $51.8 billion, with an additional $20.5 billion traded in other FX products. The total ADV was $72.3 billion, compared to $73.6 billion in the previous month which set a new high.

360T

In February 2024, 360T's spot ADV increased from US$27.51 billion in January to US$27.61 billion, a 0.36% m-o-m rise. The year-on-year comparison shows a 4.03% rise from US$26.54 billion of February 2023.

CME EBS

In February 2024, CME EBS's spot ADV decreased from US$55 billion in January to US$45.8 billion, down 16.73%. The year-on-year comparison shows a 26.72% decline from US$62.5 billion in February 2023.

Saxo Bank

In February 2024, Saxo Bank's spot ADV decreased from US$4.9 billion in January to US$4.4 billion, down 10.20%. The year-on-year comparison shows a 20% decline from US$5.5 billion in February 2023.

According to its trading data for February 2024, unveiling a total trading volume of $358.3 billion. This marks the lowest level in 17 months since September 2022, with a decrease of 4.6% compared to the previous month's $375.5 billion and a slight decline from the year-ago period's $359.8 billion. Average daily volume (ADV) for the month was $17.1 billion, 5.0% lower than $18.0 billion in February 2023, unchanged compared to that of January this year.