Euronext Reports Marginal MoM Uptick in February FX ADV

Euronext, the pan-European Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term operator, reported a marginal 2.8 percent increase in the average daily volume (ADV) of foreign exchange (FX) trading in February 2021 when compared to the figures of the previous month.

The FX ADV for last month on the platforms of the exchange operator came in at $21.89 billion, compared to January’s $21.29, a month that itself witnessed some recovery in demand. Both the months had 20 trading days.

The trading of the month started slow, but higher volumes in FX instruments were traded at the end of the month. A monthly record of over $38 billion in 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 was traded on the last trading day of February. We have seen a trend like this on other major forex trading venues as well.

The total volume of February remained at $437 million, while it was $425 billion in the previous month. The demand in the markets usually follows a downtrend at the end of every year, and Euronext was no exception. However, the last two month’s figures show a healthy uptrend in the forex market demand.

While comparing year-on-year, last month's numbers remained dull. The exchange operator reported over $464 billion in total volumes in February 2020 at an ADV of $23.21 billion, meaning there was a yearly decline of over 5.6 percent.

An Eventful Year for Euronext

Euronext operates bourses in Paris, Amsterdam, Brussels, London, Lisbon and Dublin. Additionally, the pan-European operator purchased the top Italian bourse from the London-based competitor last year, a deal which was cleared recently.

Meanwhile, the company discontinued its FX Tape service, which provides a central reference point for prices of spot FX transactions at the end of last year.