Foreign exchange trading volumes rebounded strongly across FXSpotStream LLC platforms, data showed on Thursday, as a rise in volatility encouraged more buying and selling of currencies.
Activity on FXSpotStream’s trading venue had been consolidating over the last three months, but overall it paled, and sometimes disappointed, when compared to the 2020 peak it hit in the first quarter. The aggregator service of LiquidityMatch LLC reported a record $1.37 trillion in total volumes for March.
During June 2020, FXSpotStream reported an average daily volume (ADV) of $43.2 billion, which represented a jump of 20 percent month-on-month from $36.1 billion reported back in May 2020. June’s ADV was 22.25 percent greater than Cboe HotSpot’s ADV of $34.621 billion
Across a yearly interval, the ADV metric in June 2020 reflected a slight advance of three percent from year-ago levels when weighed against $42.5 billion in 2019.
June 2020 saw a total of 22 trading days, compared to 21 days in the month prior. In terms of total volumes at FXSpotStream, the last month showed $952 billion, which was higher by more than 25 percent month-on-month from $758 billion in May 2020.
FXSpotStream expands panel
Other institutional FX platforms, including CLS and Thomson Reuters, are also expected to report a rise in volumes of last month as volatility picked up, and the secular trend of rising FX volumes comes into play again.
FXSpotStream has recently added Societe Generale as the 15th bank available to clients connected to its price aggregation service.
Societe Generale’s e-FX franchise joins to the existing panel of global banks providing Liquidity to FXSS’s clients, which include Barclays, BofA Merrill Lynch, MUFG Bank, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered, State Street, and UBS.
FXSpotStream provides a multibank FX aggregation service for spot FX trading. The platform operates as a bank-owned consortium that provides the infrastructure to facilitate the route of trades from clients to Liquidity Providers .
