Cboe Sees Best Monthly Spot FX Volumes Since 2018 in February

2020 has so far proven to be a good year for foreign exchange (trading) for Cboe, with its institutional spot FX platform reporting the best monthly trading volume in February of this year since October of 2018.

During the month of February 2020, Cboe achieved a total volume of $825.1 billion - the strongest monthly volume since October of 2018, which achieved a monthly trading volume of $841.2 billion.

With the total trading volume coming at $825.1 billion for the month, the average daily trading volume was $41.3 billion. The results for February have been achieved across 20 trading days, which is the lowest number of days since June of last year.

Comparing Cboe volumes

So how do February’s results compare? When measuring it against January’s total volume of $739.0 billion, February has posted a monthly gain of 11.6 percent. On a yearly comparison, spot FX trading has increased by 19.5 percent.

2020 has delivered consistently solid trading results for the institutional platform. As Finance Magnates reported, last month Cboe FX disclosed a total trading volume of $739 billion, up 17.7 percent on a month-over-month basis from $628 ‎billion in December 2019‎. In a different pattern, the figure was lower by 7.5 percent year-over-year when weighed against $799 billion in January 2019.

Out of the whole month, the final trading day of February, which was the 28th of February, saw a surge in FX spot trading, delivering a daily trading volume of $75.0 billion. The worst trading day for the platform came on the 17th of February 2020, when the company noted a daily trading volume of $16.9 billion.

February’s solid results represent the third consecutive monthly growth for the institutional 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 Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, with December bringing a welcome turnaround from a particularly weak performance in November.