Despite the general weakness in FX volumes during the month of May that seems to be endemic among exchanges and brokers recently, the InterContinental Exchange (ICE) has defied this trend and reported a 17.6% MoM growth in FX ADV, according to an ICE statement.
Indeed, the ICE was hit hard by waning volumes last month, which saw just 17,000 contracts, to the tune of a -45.0% decline. However, May 2014 saw a slight uptick in this field, registering 20,000 contacts – while this is certainly cause for optimism in the short-term, it is important to note that weighed against May 2013, average daily volume (ADV) is down -54.0% YoY.
What’s Holding Back Blockchain Adoption? The Answer is Simple - ConnectivityGo to article >>
The figures YTD paint largely the same picture as well, highlighted by a YTD ADV of 24,000 contracts – well above the 20,000 contracts reported in May. In addition, this figure is also dramatically underperforming the 2013 calendar year, which registered a YTD ADV of 38,000 contracts, down -38.0% YTD.