Cboe Sees 12.6% MoM Jump in January FX Demand

Cboe FX Markets, the foreign exchange (forex) spot trading venue, published metrics for January, showing a healthy recovery from the cyclical drop in demand seen in the previous month. The total trading volume for the month came in at $767.7 billion.

That figure was almost 12.6 percent higher than the previous month when it witnessed $681 billion in volume. The average daily volume (ADV) for the month stood at more than $36.5 billion, compared to December’s $29.6 billion. Although, January only had 21 trading days compared to December with 23.

The recovery in demand in January was expected as the trading market usually sees a dip in activities in December with the holidays season. 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 demand on Cboe mostly picked up at the end of last month,, and January 27 recorded the highest activity in the month with over $50 billion in trading volume.

Increase in Yearly Demand

On a yearly basis, spot 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 trading demand on Cboe jumped significantly higher, showing a healthy upward move in the market. The total monthly trading volume in January 2022 came in $61 billion or 8.7 percent higher than the figure in the same month a year ago.

However, there was a narrow difference in the ADV as January 2021 had 20 trading days. The ADV in that month came in at $35 billion.

Cboe is one of the largest derivatives trading venues in the United States. It reported a 19 percent jump in options trading volume in 2021. Furthermore, around 3 billion options contracts were traded last year, making it a record year for the platform.