CBOE FX Posts 15.4% Uptick in June’s Trading Volume

The forex markets across the globe are strongly recovering from the slump in April.

CBOE FX Markets has posted the trading numbers for last month, showing a strong uptrend in the forex market demand – a 15.4 percent in June compared to the previous month.

In absolute numbers, the CBOE Global Markets subsidiary recorded over $761.6 billion in monthly forex trading volume in June, while in May, the platform posted $658 billion.

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The daily average volume also increased to $34.6 billion from $31.3 billion in the two specified consecutive months.

A spike in forex trading

The FX volume across all the global platforms hit record highs in March – CBOE posting over $1,209.6 billion in trading volumes for the month. The previous month, it recorded $825 billion in FX volume, meaning the figures jumped 46.5 percent in a month.

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However, in April, the volume slashed to half as the platform posted only $643.6 billion in monthly trading. But since then, the market was showing signs of recovery as in May, the platform posted $658.6 billion in trades.

There is also a healthy uptrend in the average daily volume of forex trades, as in April, it slipped to $29.2 billion.

When it comes to quarterly numbers, the massive uptick in March has still dwarfed the last quarter despite the market recovery.

For Q2 2020, CBOE FX saw $2,063 billion in currency exchanges compared to $2,773 billion in the previous quarter – a decline of 34 percent. Notably, in Q1 2020, this figure jumped by 41.9 percent.

Along with CBOE FX, other forex trading platforms are also posting healthy growing numbers since the massive dip in April. Earlier today, Finance Magnates reported that Tokyo Financial Exchange (TFX) reported a monthly jump of 17.2 percent for forex trading volumes.

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