Cboe FX Markets, the institutional trading venue for spot forex trading, published its monthly trading statistics for May. The activity on the platform regained the upward pace as it jumped by 12 percent on a monthly basis.
The total trading volume for the month came in at $870.4 billion, which is up from April’s $777.1 billion. In addition, it turned out to be one of the best months for the trading venue in terms of activities which has mostly remained behind the peak achieved in the month of March for a few years.
The average daily trading volume on the platform came in at over $39.5 billion. It is again 6.7 percent higher than the previous month, but lower than February and March when the figure was at $42 billion and $44.4 billion, respectively. May had 22 trading days, compared to 21 in April.
Daily analysis of the trading volume shows that the monthly FX trading peak on Cboe was hit on 12 May as more than $53.1 billion worth of forex instruments were traded that day. Though the demand bottomed on 30 May at $21.1 billion, it recovered quickly the very next day with $45.8 billion worth of activities.
Massive YoY Jump
On a yearly basis, the increase in institutional forex trading demand was significant. The total trading volume took a forward leap of more than 27 percent, while the average daily trading volume increased by 21.5 percent.
The forex spot trading platform is only one of the few offerings of Cboe. Moreover, it operates one of the largest derivatives markets in the United States. The net revenue of the Cboe Global Markets jumped by 14 percent annually in the first quarter of 2022 to touch $418.1 million, Finance Magnates reported earlier.
