July 2023 Witnesses Marginal Growth in Institutional FX Trading Volume

In July 2023, the institutional FX trading volumes across prominent platforms experienced a modest overall increase. A comprehensive report has revealed the Average Daily Volume (ADV) of FX trading volumes from five major venues: Cboe FX, CLS, Euronext FX, FxSpotStream, and 360T.

Each company reported a slight uptick in average daily FX trading volumes compared to the previous month. Notably, CLS exhibited the highest month-on-month (MoM) increase, with a growth rate of 3.15 percent, followed by 360T with 1.16 percent. FxSpotStream and Euronext FX also demonstrated a MoM rise of 0.36 percent and 0.13 percent, respectively. Furthermore, 360T observed a 0.045 percent increase in average daily FX trading volumes.

The detailing trading volumes for each venues are as follows:

Cboe FX

In July, Cboe Spot witnessed a significant trading volume of $922,391 million, displaying a decrease from the previous month's figure of $965,352 million in June 2023. The Average Daily Volume (ADV) for July 2023 remained relatively stable at $43,923 million, showing a marginal difference from the prior month's value of $43,880 million.

CLS

The average daily traded volume (ADTV) submitted to CLS by product of $1.986 trillion, down 4.0% compared to $2.069 trillion in June 2023 and up 5.6% compared to $1.881 trillion in July 2022. 

ADTV of spot increased by 3.2% from $476 billion to $491 billion on a monthly basis, increasing by 4.0% compared to $472 billion in July 2022.

Euronext FX

Total trading volume of Euronext FX was $492,227 million for the month, down 4.3% compared to $514,253 million in June 2023 and up 9.4% compared to $449,861 million in July 2022.

Average daily trading volume of Euronext FX totaled $23,439 million, up 0.3% compared to $23,375 million in last month and up 9.4% compared to $21,422 million in the same month of 2022.

FxSpotStream

The total trading volume for the month came in at $1,366,308 million​, a slight decrease of 1.4% compared to $1,385,628 million in June 2023 and an increase of 1.6% compared to $1,344,776 million in July 2022.

Average daily volume was $63,062 million for the month, compared to $62,983 million in the prior month and $64,037 million in the same period of last year.

360T

In the month of July 2023, 360T recorded an average daily volume of $27.2 billion, indicating a slight rise of 1.12 percent when compared to the previous month's figure of $26.9 billion in June 2023.