Cboe FX Markets has released its trading volumes on the platform for September 2020, showing a positive uptick in spot traders’ demand.
Last month, the exchange recorded a total foreign exchange (forex) trading volume of $702 billion compared to the previous month’s $602 billion, meaning there was a month-on-month jump of 16.6 percent.
Cboe spot FX volumes hit a record high in March going above $1.2 trillion with the Coronavirus-induced market volatility. However, the numbers almost halved in the next month. Despite a healthy rebound in May and June, the trading volumes drastically dropped in the next couple of months.
Cboe’s September figures are significantly robust being the second highest in the last six months, but it is still behind June’s numbers which are $761 billion.
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When compared year-on-year, trading in September 2020 is on good form again as last year the exchange recorded only $637 billion for the same month.
The average daily volume on the spot FX exchange remained at $31.9 billion for last month which had 22 trading days.
The Quarter Remained Dull
Apart from the monthly numbers, Cboe released its quarterly trading volume figures as well. In the third quarter of 2020, that is from July to September, the exchange handled $1.99 trillion in trading volume, but that was a 3.3 percent drop from the previous quarter. In Q2 2020, the exchange saw $2.06 trillion in total spot trading volume.
But the latest quarterly numbers are similar on a year-on-year basis with a marginal drop.
Finance Magnates earlier reported that Cboe is launching a new currency trading platform, Cboe FX Central, that will be similar to CME Group’s EBS and Refinitiv’s Matching.