CBOE FX Posts 15.4% Uptick in June's Trading Volume

CBOE FX Markets has posted the trading numbers for last month, showing a strong uptrend in the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term market demand - a 15.4 percent in June compared to the previous month.

In absolute numbers, the CBOE Global Markets subsidiary recorded over $761.6 billion in monthly Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term volume in June, while in May, the platform posted $658 billion.

The daily average volume also increased to $34.6 billion from $31.3 billion in the two specified consecutive months.

A spike in forex trading

The FX volume across all the global platforms hit record highs in March - CBOE posting over $1,209.6 billion in trading volumes for the month. The previous month, it recorded $825 billion in FX volume, meaning the figures jumped 46.5 percent in a month.

However, in April, the volume slashed to half as the platform posted only $643.6 billion in monthly trading. But since then, the market was showing signs of recovery as in May, the platform posted $658.6 billion in trades.

There is also a healthy uptrend in the average daily volume of forex trades, as in April, it slipped to $29.2 billion.

When it comes to quarterly numbers, the massive uptick in March has still dwarfed the last quarter despite the market recovery.

For Q2 2020, CBOE FX saw $2,063 billion in currency exchanges compared to $2,773 billion in the previous quarter - a decline of 34 percent. Notably, in Q1 2020, this figure jumped by 41.9 percent.

Along with CBOE FX, other forex trading platforms are also posting healthy growing numbers since the massive dip in April. Earlier today, Finance Magnates reported that Tokyo Financial Exchange (TFX) reported a monthly jump of 17.2 percent for forex trading volumes.