Institutional Spot FX Results in November Mixed, Cboe FX Outperforms

November 2023 saw mixed results for institutional spot currency trading from major market operators including Cboe FX, Deutsche Börse’s 360T, Euronext FX, and Click 365. However, US-based Cboe FX's results stayed above the $1 trillion threshold for the second consecutive month.

For Cboe FX, October 2023 saw a slight cessation of recent monthly growth in trading volume, albeit by a small decline. The total trading volume for November was $1.01 trillion, compared to $1.03 trillion in the previous month. Like October, there were 22 trading days in November.

The average daily volume (ADV) also fell, from $46.75 billion in October to $45.91 billion in November. However, these results compare favorably with those reported by Cboe in September and August.

It's worth noting that monthly volume above $1 trillion is historically uncommon, having occurred only six times since 2017, including twice in the last two consecutive months.

Europe's leading institutional FX trading platform, 360T Deutsche Börse, reported November’s trading volumes of $595.87 billion, up from $567.97 billion in October. However, due to the high number of trading days in November, the ADV fell to $27.09 billion, compared to $28.4 billion in the previous month.

Euronext FX reported trading volumes of $534.94 billion, a significant jump from $507.79 billion in October. The ADV also increased from $23.08 billion to $24.32 billion, despite more trading days in November.

Click 365, an FX platform of the Tokyo Stock Exchange, also announced its results. The total number of traded contracts amounted to 2,223,992, a 7.6% increase compared to October. However, similarly to the previous months, the year-on-year dynamic decreased by 26.5%. The ADV of Click 365 contracts in October amounted to 101,090.

(Source: Finance Magnates)