In the latter part of 2023, trading of foreign exchange (FX) in institutional settings began positively.
There was an average rise of 3.1% in daily electronic FX trading volumes in July compared to a strong month of June for FX trading. The first six months of the year were also quite active in terms of FX trading.
Every major FX platform, such as FXSpotStream, Cboe FX, EuronextFX, and 360T, experienced a rise in trading activity in July 2023 due to ongoing fluctuations in currency values, which encouraged traders to remain engaged.
In July 2023, Cboe FX (previously known as HotspotFX) had an average daily trading volume of $43.923 billion. Which was a slight increase of 0.1% compared to June’s $43.880 billion.
In July 2023, EuronextFX (previously known as FastMatch) reported a daily average trading volume (ADV) of $23.441 billion. This represented a slight increase of 0.3% compared to the ADV of $23.372 billion in June.
FXSpotStream’s average daily volume (ADV) was $65.062 billion. This was a 3.30% increase compared to June 2023 and a 1.60% increase compared to July 2022.
The average amount of trades processed by 360T per day was $29.173 billion. Which was 8.7% higher than the previous month’s volume of $26.839 billion.
Read more: Deutsche Bank boosts investment banking | Brokers Times
