Refinitiv Sees A Fresh Year High ADV in FX Trading Volumes for March 2023

Refinitiv, one of the world's largest providers of financial markets data and infrastructure, has released its financial results for March 2023, unveiling that its Average Daily Volumes (ADV) of currency trading came in at $474 billion in the month on the firm's main FX trading services, hitting the highest record over the past twelve months.

The FX trading volumes across Refinitiv Matching and FXall platforms saw a 3.3% rise from $459 billion in the prior month and a 3.3% drop compared with $490 billion in the same period of last year.

The increased FX trading volumes for the month were driven by heightened market volatility, providing traders with chances to profit from short-time price movements.

Refinitiv' Spot FX volumes, partly owned by Thomson Reuters, amounted to $104 billion, 2.0% higher than $102 billion in February 2023 and 7.1% lower than $112 billion in March 2022.

The surge in other transaction types, including forwards, swaps, options and non-deliverable forwards (NDFs), led to a monthly increase and recorded their best month in 2023, averaging a daily figure of $370 billion, an increase of 3.6% compared to $357 billion in the prior month.

According to the company's financial data for February 2023​, Refinitiv had also experienced a slight increase in ADV in FX trading from $455 billion in January 2023.