Institutional Spot FX Trading Volumes in March 2024 Pick Up, Max. Growth Hits 19.87%

The institutional spot FX trading volumes of major platforms saw a trend of picking up across March 2024. The average m-o-m comparison is up 8.18% based on what the six major institutions posted. Month-on-month growth of spot average daily volume has been observed by Cboe FX, Euronext FX, FxSpotStream, 360T and CME EBS. Saxo Bank is only exception with a monthly decrease. The trading volume details of each are as follows:

Cboe FX

In March 2024, Cboe FX's spot ADV increased from US$42.63 billion in February to US$46.03 billion, a 7.98% increase, but the year-on-year comparison shows a -4.80% drop from US$48.35 billion of March 2023.

Global FX ADV for the month for the exchange totaled $47.35 billion, 4.5% lower than $49.56 billion in March 2023 and 8.5% higher than $43.63 billion in February 2024.

Euronext FX

In March 2024, Euronext FX's spot ADV increased from US$23.61 billion in February to US$25.68 billion, the m-o-m decrease is 8.77%. The year-on-year comparison shows a 13.33% rise from US$22.66 billion of March 2023.

Trading volume of Euronext FX totaled $539,173 million for the month, rising 8.8% compared to $495,776 million in the prior month and rising 3.4% compared to $521,214 million in the same period of 2023.

FxSpotStream

In March 2024, FxSpotStream's spot ADV increased from US$51.83 billion in February to US$58.18 billion, up 12.25%. The year-on-year comparison shows a 7.64% rise from US$54.05 billion of March 2023.

The ADV on the platform for the month totaled $82.6 billion, 14.2% higher than $72.3 billion in the prior month and 23.7% higher than $66.8 billion in the same period of 2023.

360T

In March 2024, 360T's spot ADV increased from US$27.61 billion in February to US$29.55 billion, a 7.03% m-o-m rise. The year-on-year comparison shows a 5.84% rise from US$27.92 billion of March 2023.

CME EBS

In March 2024, CME EBS's spot ADV increased from US$45.8 billion in February to US$54.9 billion, up 19.87%. The year-on-year comparison, however, shows a -19.26% decline from US$68 billion in March 2023.

Saxo Bank

In March 2024, Saxo Bank's spot ADV decreased from US$4.4 billion in February to US$4.1 billion, down -6.82%. The year-on-year comparison shows a -39.71% decline from US$6.8 billion in March 2023.

Saxo Bank reported a total trading volume for the month of $377.7 billion, 5.4% higher than $358.3 billion in the prior month and 21.7% lower than $482.1 billion in the year-ago month. Average daily volume (ADV) for the month was $18.0 billion, an increase of 5.3% compared to $17.1 billion in February this year and a decrease of 14.3% compared to $21.0 billion in March of last year.