FXSpotStream’s September ADV Climbs 20.5% as Total Volume Hits $1.6T

FXSpotStream, a provider of multi-bank foreign exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term aggregation services for forex spot, swaps and forwards, recorded a total volume of $1.6 trillion in September 2022.

This represents a 15% rise in total volume from August’s $1.4 trillion, even as the average daily volume (ADV) in September jumped 20.5% to $73.4 billion from last month’s $60.9 billion.

These figures are contained in the monthly volume metrics published by FXSpotStream on Monday.

According to the spot forex trading aggregation services provider, the September ADV, which was recorded within a 22-day trading period, has had a 51.7% surge from what it posted in the same period last year.

Performance in Recent Months

In August, FXSpotStream saw a 4.9% decline in its ADV which came in at $60.8 billion.

This is despite the fact that the total volume in the month increased 4.5% to $1.4 trillion from June’s $1.3 trillion.

Finance Magnates reports that FXSpotStream’s August volumes were pushed up by more trading days (23 days) in a month when the industry witnessed a drop in activities due to the effects of the summer holidays.

Meanwhile, FXSpotStream recorded its second-best month in operational history in terms of ADV in July; it first achieved the record volume in June.

In July, the bank-owned consortium’s ADV hit $64 billion, coming in behind March’s $70.1 billion.

The ADV was a 0.31% month-over-month increase from June’s volume and a 33.66% jump from July 2021’s record.

“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 noted on the record-breaking performance.

FXSpotStream LLC, the company behind FXSpotStream, was established in 2011 as a bank-owned consortium.

The firm enables its clients to execute 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 spot, forward, swap and precious metals trades through its multi-bank forex aggregation service.