Cboe Global Markets reported a significant decline in global foreign exchange (Forex) trading volumes for October, while experiencing substantial growth in its Asian operations, highlighting shifting market dynamics across regions.

Cboe FX Trading Volumes Drop 7.4%, While Asian Markets Surge

Average daily volume (ADV) in the Cboe’s global FX segment fell to $44.4 billion in October, marking a 7.4% decrease from the $47.9 billion recorded in the same month last year. The decline was even more pronounced when compared to September 2024, showing a 7.7% month-over-month drop from $48.1 billion.

Year-to-date results proved more favorable. ADV from January to October 2024 was $46.8 billion, up nearly 6% from $44.4 billion in the same period in 2023. It suggest the October decline may be a temporary deviation from the broader upward trend.

This does not change the fact that other major trading venues also reported a decline in FX volumes earlier. These included entities from Japan and Europe. For instance, Click 365 saw a drop of around 12%. The exception was CME, where EBS Spot FX ADV rose by 15% to $58.3 billion.

The exchange operator's Asian operations emerged as a bright spot, with Japanese equities trading volume surging 47% year-over-year to 288 billion yen. Australian equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term trading also showed resilience, climbing 8% to 777 million AUD compared to October 2023.

Mixed Performance Elsewhere

In Europe, Cboe Clear Europe achieved notable milestones, processing 117.5 million client trades in October - its highest monthly volume in 2024. The clearing house also marked its entry into the German market, clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term its first trades on Deutsche Börse.

The options segment showed mixed performance, with multiply-listed options contracts declining 3.9% year-over-year to 10.9 million contracts per day. Index options volumes experienced a steeper decline of 12.3% compared to October 2023, averaging 3.9 million contracts daily.

Futures trading witnessed the most significant decline among all segments, with average daily volume dropping 36% year-over-year to 187,000 contracts. U.S. equities trading volumes also softened, with on-exchange matched shares decreasing 6.4% compared to the previous year.

The European equities business provided another positive highlight, with average daily notional value rising 13.6% year-over-year to €10.5 billion. The segment's Periodic Auctions service set a new record with €2.5 billion in average daily notional value.