The volume of spot forex traded on Euronext FX reached approximately $1.4 trillion during the first quarter of 2023. This is a decline of 13% from the $1.6 trillion posted during the same period in 2022. Additionally, the daily average volume dropped 14.4% to $21 billion, which is down from $24.5 billion during the first quarter of 2022.

Euronext FX Posts Significant Increase MoM

Euronext, the top European market infrastructure, disclosed these figures in its latest market statistics for March 2023 released on Tuesday. Euronext FX, previously called FastMatch, is the pan-European trading and post-trading services provider’s electronic communication network for forex trading .

According to the new data, while Euronext FX’s total spot forex volume declined during the first quarter of the year, trading activities in this market gained 26.4% in March 2023, reaching $521 billion compared to $412.2 billion in the prior month. Similarly, the average daily volume (ADV) of spot forex trading activities rose by 10% to $22.7 billion, which is up from $20.6 billion in the previous month.

However, on a year-over-year basis, total volumes declined by the same measure as they did on a quarterly basis. In other words, Euronext FX’s total forex spot volume decreased by 13.2% from $600.6 billion generated in March 2022. The ADV fell an equal measure from $26 billion in the prior period last year.

Furthermore, year-to-date (YTD), the pan-European exchange’s total and daily average spot forex volume slumped significantly. In terms of total volumes, YTD came in at approximately $1.4 trillion, which is down by 13% from approximately $1.6 trillion generated during the first 64 days in 2022.

On top of this, year-to-date ADV of spot forex volume on Euronext FX went down 14.4% to $21 billion. During the same period in 2022, the daily average came in at $24.5 billion.

Euronext Sees Third Highest Equity Value in History

Meanwhile, Euronext in the latest March report noted that it had recorded “the third highest equity value traded in history” on March 17th. The total value of trading during the day came in at €27.6 billion, pushed by higher volatility .

“Over March 2023, €12.7 billion of average daily traded volumes was reported on Euronext markets, the highest level in 12 months. During this time, Euronext reinforced its position as the venue of price formation in Europe, thanks to its continued superior market quality,” Euronext explained.

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