FXSpotStream Sees $1.39T in June, Rebounds for Second Consecutive Month

Monday, 03/07/2023 | 21:53 GMT by Solomon Oladipupo

However, the new volumes fail to break through the peak reached in March 2023.

Other venues for spot FX trading reported a similar growth pattern last month.

FXSpotStream’s $63.8bn ADV Record in June Is Second Highest Ever — FXSpotStream's logo

FXSpotStream released its trading metrics for June 2023 today (Monday), reporting its second consecutive month of growth in total trading volume following a significant dip in April. Last month, the total volume recorded by the New Jersey-based provider of multibank price streaming services for FX spot and swaps climbed 9% month-over-month (MoM) to $1.39 trillion, rising from $1.28 trillion generated in May.

FXSpotSream Fails to Break through March Peak

In the latest figure, FXSpotStream reported an increase of 13.5% in its average daily volume (ADV). This occurred as the daily average rose from $55.5 billion in May to approximately $63 billion last month.

Also in May, the total volume had risen 14% MoM to $1.28 trillion, with a daily average increasing marginally by 0.4% to $55.5 billion. These figures had trailed with 28% and 17.2% being decreases in total volume and ADV respectively that were recorded in April.

However, while FXSpotStream’s latest total monthly and daily average volumes represent a two-month high, they failed to break past the best performance recorded so far this year: $1.54 trillion in total volume and $66.8 billion in daily average, which were posted in March.

FXSpotStream’s volumes jumped in the first three months of 2023, only dropping for the first time in April, Finance Magnates reported.

Spot FX Market Rises for 2nd Month in a Row

Meanwhile, the two-month consecutive increase in spot FX volume is not unique to FXSpotStream, whose European arm recently witnessed a growth of its net profit by 34%. According to the latest data from Cboe FX Markets, Deutsche Börse's 360T, and Tokyo Financial Exchange's Click365, the demand for institutional forex trading rebounded in June for the second consecutive month, despite the lower number of trading days seen in May.

In terms of total volume, while Cboe FX generated $965.4 billion, 360T revealed its figures at $537.2 billion. On the other hand, Click365 posted a trading volume of 28 million contracts, translating to a MoM growth of 10.4%.

USD LIBOR ceases; MetaTrader Web Terminals change addresses; read today's news nuggets.