The forex spot volume of the European New Exchange Technology (Euronext) declined -11.8% to $449,861 billion in July 2022.
The ADV in this category came in at $21,422 billion last month compared to June 2022's $23.2 billion.
This is a 7.6% decline in ADV month-over-month (MoM).
These details are based on analysis of the Euronext July Monthly Volume released on Monday by the pan-European derivatives exchange.
In June, Euronext FX with $510,089 billion in spot volume returned a flat demand in forex. The market saw a marginal increase of 0.2% in the month, and this was in line with falls in forex volumes seen across the industry.
While Euronext’s spot FX volume slid month-over-month (MoM) in July, it saw a 12.6% increase year-over-year (YoY). In July 2021, Euronex posted $399,634 billion in spot forex volume.
Also, the ADV on a YoY basis climbed 17.9% from the $18,165 billion recorded in June last year.
Additionally, on a year-to-date basis, Euronext FX’s spot volume surged 20.1% to $3.6 trillion. In the same period last year, the figure was $2.96 trillion.
In the same measure, forex spot ADV climbed 20.1% YTD to $23.8 billion. In the same period last year, the exchange posted $19.74 billion.
FX Spot Industry Performance in July
In July, Cboe FX Markets, an institutional venue for spot foreign exchange trading, reported an 8% monthly dip in its trading volumes.
The total volume in the month hit $801.9 billion, dropping from the previous month’s $873.6 billion. Moreover, its ADV dropped from $39.7 billion to $38.18 billion.
Finance Magnates reports that the dip is likely the effect of the summer holidays on the markets.
However, on a YoY basis, Cboe FX Markets’ spot forex volume strengthened by 11.4% from July 2021’s $719 billion.
Also, the average daily notional value (ADNV) of spot forex traded on the Chicago Mercantile Exchange (CME) Group’s Electronic Broking Services (EBS) dropped -1.4 to $64.5 billion from June’s $65.4 billion.
Additionally, Paul Houston, the Global Head of FX at CME Group in data shared with Finance Magnates, pointed out that total forex volumes on CME FX Link, a spot forex service at CME Globex, jumped 46% YoY in July 2022.
The ADV at this spot forex service also surged 75% YTD compared to the same period in 2021.
Meanwhile, FXSpotStream, a provider of multibank FX aggregation service for spot FX trading, posted $64 billion in ADV in July. This represents a margin 0.31% MoM increase and a greater 33.66% jump YoY.
FXSpotStream said July was its second best month in its operational history as the volume failed to beat the $70.1 billion posted in March.
“This YoY growth is a strong indicator of the continued market share gains as FXSpotStream continues to grow at the fastest rate of any FX service reporting volumes,” FXSpotStream stated.
