Multibank FX aggregation service FXSpotStream has announced that it recorded the highest average daily volume as well as overall monthly volume since the service was founded nearly six years ago. The current month’s volume exceeds the company’s previous volume record set in November 2016, which included the daily volume high of USD $49 billion on US election day, and follows a strong August ADV increase MoM of 9.5% and 54.6% YoY.
Average daily volumes in September were $23.9 billion at FXSpotStream, versus $19.2 billion in August, a 24.6% increase MoM.
Total FX volume in September was $502.7 billion, versus $441.9 billion in August and the company’s previous record of $490.5 billion set in November 2016. We’d note that FXSpotStream achieved that despite a lower-than-average 21 trading days during the month.
The record setting volume in September caps a great month of momentum for FXSpotStream with the addition of State Street as LP number 13, the hiring of a new CTO, Tom San Pietro, who joins FXSpotStream after seven years at Thomson Reuters / FXall, after and the announcement of the upcoming launch this month of FX-Insights, FxSpotStream’s new analytics suite.
FXSpotStream Monthly Volumes Data
| Month |
Total Volume* | Avg Daily Volume (ADV) | ADV Change MoM |
ADV Change YoY | Trading Days |
| Sept-17 | $502,747 | $23,940 | +24.6% | +54.9% | 21 |
| Aug-17 | $441,936 | $19,215 | +9.5% | +54.6% | 23 |
| Jul-17 | $368,589 | $17,552 | -13.6% | -10.7% | 21 |
| Jun-17 | $446,818 | $20,310 | +16.4% | -2.1% | 22 |
| 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.
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 13 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, State Street and UBS.