FXSpotStream LLC, a provider of multibank FX aggregation services for spot FX trading, published its trading metrics for December, reporting $1.26 trillion in total volume. The figure has weakened by 14.4% from the previous month but has strengthened significantly compared to the same period a year earlier.
FXSpotStream Volume Drops after Three Strong Months
According to the FXSpotStream's turnover data, the total volume declined for the fourth consecutive month and was the lowest since February 2022, when the metric stood at $1.26 trillion. However, it is worth noting that November, October and September were among the best months in the company's history regarding the total trading activity. In November, the total volume amounted to $1.48 trillion.
The Average Daily Volume (ADV) handled by the platform dropped 14.4% Month-over-Month (MoM) to $57,602 while recording a hefty increase of 34.3% Year-over-Year (YoY) when ADV stood at $42,894.
FXSpotStream is a bank-owned consortium established in 2011. Along with its services in the institutional spot forex market, the platform has extended services in the derivatives market. In addition, it launched the much-anticipated support for FX Algos and Allocations over its API, thus expanding its services.
Holiday Season Pushed Institutional Spot FX Volume Lower
The monthly figures of FXSpotStream followed the same trend as other major institutional spot forex trading venues, including Cboe FX and Deutsche Börse's 360T. The noticeable slowdown in the industry in the last month of the year is a key characteristic of the holiday season when traders' activity drops significantly for about two weeks.
Cboe FX Markets ended the month with a total volume of more than $773 billion, which translates to a 16% MoM decline. However, the figures came in at 13.5% stronger when compared to the last month of 2021. The ADV came in at more than $35.1 billion, declining from $41.8 billion reported in November.
360T, which is a major spot FX venue in Europe, showed a monthly volume of $490 billion, translating to an MoM decline of 10% from $545 billion reported last month. The overall activity was higher than a year ago, although growth proved modest. In December 2021, 360T reported a total trading volume of $481 billion, translating to YoY growth of 2%.
