FXSpotStream LLC, a provider of multibank FX aggregation service for spot FX trading, has published its key monthly trading metrics for February 2022. The average daily trading volume (ADV) on the platform touched a record $63.1 billion.
The ADV for last month increased by more than 19.2 percent month-over-month and 27.3 percent year-over-year. February had only 20 trading days, making it one of the shortest months in the trading market.
The total trading volume for the month came in at $1.26 trillion, which is the second-highest monthly volume recorded by the company in its operational history. The latest number is only behind the demand the company handled in March 2020, when the total volume touched $1.37 trillion.
The company started 2022 handling massive trading demand as in both January and February, the total volume breached the $1 trillion mark. The total figure in February jumped by 9 percent when compared with the previous month, while on a year-on-year basis it increased by more than 21 percent.
FX Trading Demand Skyrocketed
Established in 2011, FXSpotStream is a bank-owned consortium. Along with its services in the 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 further expanding its services.
FXSpotStream is not the only forex trading market service provider that witnessed record growth in demand. Cboe FX Market, which offers sport forex trading to institutions, also reported a massive jump in its total trading volume with ADV at around $42 billion, which has been its strongest since March 2020.
