Refinitiv's FX Trading Volumes Rebound Slightly in February

​Refinitiv, a financial data and tech company, reported an average daily volume (ADV) of $459 billion in FX trading in February 2023. This was a slight increase from $455 billion in January 2023 and a modest decrease from $470 billion in February 2022.

The table below shows the breakdown of Refinitiv’s FX trading volumes by transaction types. The spot FX volumes increased by 2% month-on-month to $102 billion in February 2023 but decreased by 1% year-on-year. The other transaction types also increased slightly month-on-month to $357 billion in February 2023 but decreased by 3% year-on-year.

Refinitiv provides FX trading services for institutional and retail brokers, including spot, forwards, swaps, NDFs, options and precious metals. The company has over 16,000 counterparties and more than $425 billion average daily FX volumes across its platforms (Conversational Dealing, Matching and FXall).

According to Fazzaco, Refinitiv has commenced publication of new USD IBOR Cash Fallbacks​ that are consistent with the Federal Reserve Board and ARRC benchmark replacements for FHFA-regulated-entity contracts (except Federal Home Loan Bank advances) and Federal Family Education Loan Program (FFELP) Asset-Backed Securitizations (ABS).