FXSpotStream LLC, a provider of multibank FX aggregation services for spot FX trading, reported October's total monthly trading volume to be more than $1.45 trillion. The monthly average daily volume (ADV) came in at over $69.1 billion.
The ADV declined by 5.8 percent compared to the previous month’s $73.3 billion. However, the figure strengthened by 37 percent when compared year-over-year.
There were 21 trading days last month compared to 22 in September.
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.
Despite the month-over-month decline in trading demand, October remained one of the best months in its operational history. The reported monthly figures only remained behind September and March, which was a record month for the platform, with $70.1 billion in ADV.
Also, though there were monthly fluctuations in trading volume, the figures around 2022 significantly strengthened year-over-year, mostly in double digits.
An Industry-Wide Trend
FXSpotStream is not the only platform to report a monthly slump and strong yearly figures for October. It was an industry-wide trend for the month, as other significant platforms had reported a similar pattern in their figures.
Cboe FX reported an ADV of $42.6 billion for October, while Deutsche Bourse’s 360T posted $23.7 billion. The figures on the platforms declined 7 percent and 13 percent, respectively, month-over-month. However, they came in stronger by 25 percent and 7.2 percent, respectively, year-over-year.
