The Intercontinental Exchange Inc has issued a report outlining the performance of the group of exchanges and clearing houses under it. We will focus our attention on the foreign exchange figures first, which revealed that trading volumes in foreign exchange for September 2014 doubled when compared to the previous month.
Total FX Average Daily Volume (ADV), including futures and options for the USD Index and forex, reached 50,000 contracts in September 2014, besting August’s 25,000 contracts, constituting a jump of 100%. Across a yearly time frame, the September 2014 figures were 37% higher YoY than September 2013 (37,000 contracts). Conversely, the year-to-date ADV (ADV YTD) was only 27,000 in September 2014, -32% less than the same period the previous year (40,000 contracts).
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The wild volatility after the European Central Bank announced its unprecedented easing effort and cut interest rates further into negative territory has contributed to the sharp spike in FX volatility which has taken the industry out of the slump, closing the third quarter on a very strong note.