After reporting a very slow start to the summer trading season in July, data from institutional Forex ECN Cboe FX Markets – formerly known as Hotspot FX – indicates that the company saw a 5% increase in average daily volumes during August, $34.9 billion versus $33.2 billion the previous month.
July’s $33.2 billion ADV figure had represented Cboe FX’s slowest month of 2018, but again not unexpected in the summer.
By product, the most-traded pair at Cboe FX in August 2018 was EURUSD at 25.3% of total trading. USDJPY at 14.0%, AUDUSD at 9.2%, GBPUSD at 8.6%, and USDCAD at 6.5% of total were next in line.
It has been a year and a half since Hotspot FX began operating under the corporate umbrella of its new owner, CBOE Holdings Inc. (NASDAQ:CBOE). CBOE acquired control of Hotspot FX via its $3.2 billion takeover of Bats Global Markets Inc at the end of February 2017. CBOE initially rebranded its Forex ECN unit as: Hotspot – a CBOE company. And now, as noted above, it has been re-rebranded as Cboe FX Markets, with the ‘Hotspot’ brand being phased out.