FXSpotStream LLC, a provider of multibank FX aggregation service for spot FX trading, published its trading metrics for July, reporting an average daily volume (ADV) of almost $64.04 billion.
The figure increased marginally by 0.31 percent month-over-month, while it jumped 33.66 percent from July 2021. It was the second highest monthly ADV on the platform that remained only behind the $70.1 billion touched last March.
“This YoY growth is a strong indicator of the continued market share gains as FXSpotStream continues to grow at the fastest rate of any FX service reporting volumes,” FXSpotStream stated.
The overall volume on the platform jumped by 27.58 percent to reach $1.345 trillion. It was the seventh consecutive month for which the platform posted a total monthly volume above $1 trillion.
Strong Performance in 2022
Additionally, the platform highlighted its year-to-date performance showcasing a significant demand rise in 2022. Between January and July, it handled $9.308 trillion in total trading volume. Moreover, the ADV jumped by 25.28 percent from the same period of the previous year, touching $62.054 billion.
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 further expanding its services.
While FXSpotStream witnessed a marginal monthly gain in demand, other institutional forex trading platforms reported a dip.
Cboe, which runs one of the largest US derivatives and an institutional spot FX trading platform, posted a month-over-month decline in trading volume by 8 percent last month. However, the demand jumped year-over-year by 11 percent.
