FXSpotStream Sees 4.9% August ADV Decline despite a Rise in Monthly Volume

FXSpotStream LLC, a provider of multibank FX aggregation services for spot FX trading, released trading metrics for August. Interestingly, the total volume for forex trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term handled by the platform went up month-over-month by 4.5 percent, with the absolute figure at $1.4 trillion. It happened in a month when the industry witnessed a drop in activities due to the effects of the summer holidays.

Year-over-year the total volume of trading jumped by almost 43 percent.

However, the industry-wide trend can be seen in FXSpotStream’s average daily volume (ADV), which came in at $60.8 billion. It was a 4.9 percent decline from the previous month but strengthened by 47.2 percent year-over-year.

The total volume of trading on FXSpotStream for last month only remained behind in March and June 2022. The total trading volume, as well as ADV, peaked last March with figures at $1.61 trillion and $70.1 billion, respectively.

The total volume of trading surged despite an ADV as August had 23 trading days, compared to only 21 in July.

A Major Player in the FX Market

FXSpotStream is a bank-owned consortium established in 2011. Along with its services in the institutional spot forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term 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.

Meanwhile, other institutional forex trading platforms witnessed a similar trading trend in August.

Cboe, which operates an institutional venue for spot forex trading, reported monthly growth in trading volume, but a decline in the ADV of almost 2.7 percent.