Continuing the string of fairly flat to slightly up trading volumes at leading eFX platforms we’ve seen for the month of May, multibank FX aggregation service FXSpotStream has reported that volumes on its system were up 2% MoM in April.
Average daily volume at FXSpotStream came in at $17.5 billion in April, versus $17.1 billion in April. However that’s still below the volume levels FXSpotStream was seeing earlier this year, of $18.8 billion in March, $18.7 billion in February and $18.9 billion in January. However, as we’ve noted for other institutional platforms, if we remove May 1 (May Day) and US Memorial Day on May 29 from the calculations, ADV would be have been $18.3 billion, a 7% increase MoM and more in line with Jan-Feb-Mar.
FXSpotStream is a bank owned consortium operating as a market utility, providing the infrastructure that facilitates a multibank API and GUI to route trades from clients to Liquidity Providers. FXSpotStream provides liquidity from 12 leading global banks – BofA Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered and UBS.
| Month |
Total Volume* | Avg Daily Volume (ADV) | ADV Change MoM |
ADV Change YoY | Trading Days |
| May-17 | $401,400 | $17,452 | +2% | +8.7% | 23 |
| Apr-17 | $342,322 | $17,116 | -8.9% | -4.8% | 20 |
| Mar-17 | $431,899 | $18,778 | +0.3% | +6.4% | 23 |
| Feb-17 | $374,279 | $18,714 | -0.8% | -10.8% | 20 |
| Jan-17 | $414,863 | $18,857 | +7.3% | -5.6% | 22 |
| Dec-16 | $386,705 | $17,578 | -21.2% | +33.5% | 22 |
| Nov-16 | $490,498 | $22,295 | +30.4% | +69.1% | 22 |
| Oct-16 | $359,176 | $17,104 | +10.7% | +24.5% | 21 |
| Sept-16 | $339,942 | $15,452 | +24.3% | -4.7% | 22 |
| Aug-16 | $285,831 | $12,427 | -36.8% | -20.6% | 23 |
| Jul-16 | $412,617 | $19,648 | -5.3% | +39.6% | 21 |
| Jun-16 | $456,490 | $20,750 | +29.2% | +41.5% | 22 |
| May-16 | $353,326 | $16,060 | -10.7% | +26% | 22 |
| Apr-16 | $377,543 | $17,978 | +1.9% | +41% | 21 |
| Mar-16 | $405,823 | $17,644 | -15.9% | +23.8% | 23 |
| Feb-16 | $440,517 | $20,977 | +5% | +57% | 21 |
| Jan-16 | $399,477 | $19,974 | +51.7% | +21.6% | 20 |
* Volumes in USD millions, single count, for all streaming and matching products.