November's Total Institutional FX Spot Trading Volume Jumped MoM

Forex trading demand on institutional spot platforms has increased in terms of the total monthly volume for November. Spot FX trading volumes on two top trading venues, Cboe FX and Deutsche Börse's 360T, came in at more than $921 billion and $545 billion, respectively.

Cboe FX, run by one of America's largest derivatives 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 operators, reported an average daily volume (ADV) of $41.8 billion. This figure is below nearly 2 percent from the previous month. However, there was a significant uptick in the number compared year-over-year: it increased by about 19 percent from an ADV of $35.2 billion in November 2021.

Despite a surge in total volume, the monthly drop in the ADV is due to an additional trading day last month compared to the previous one. November had 22 trading days, whereas October had 21.

However, both total monthly volume and the ADV remain significantly below the levels of September when one figure surpassed $1 trillion, and the other came above $45.8 billion.

European Demand

360T, which dominates Europe's institutional spot FX market, reported a total monthly volume of more than $545 billion in November. The platform handled $499.3 billion in trading activities in the previous month. The ADV for November on the European platform came in at over $24.7 billion, which is 4.2 percent higher than the previous month's $23.7 billion.

Unlike Cboe FX, the demand for 360T decreased year-over-year. The total monthly volume on the platform went down by 1.6 percent from $536 billion in November 2021, and the ADV dropped at a similar rate.

Meanwhile, the Japanese 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 derivatives market also witnessed a monthly slum in trading activities. Click 365, which Tokyo Financial Exchange operates, handled the exchange of more than 3 million FX derivatives contracts in November. The figure dropped by 16.4 percent month-over-month but marginally increased by 0.3 percent annually.