Cboe FX Ends March as Second Best Month, Trading Volume Hits $1.1T

Monday, 03/04/2023 | 09:35 GMT by Arnab Shome
  • The latest reported trading volume only lags behind March 2020.
  • The quarterly trading volume and ADV of the platform hit records.
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Institutional trading platforms are publishing metrics for March, when the demand skyrocketed compared to previous months. Cboe FX, an institutional venue for spot foreign exchange trading, ended the month with $1.1 trillion in total forex trading volume, the platform's second-best monthly figure.

Activities on Cboe FX Soar in March

The figure reported for March is only behind Cboe's previously reported record of $1.2 trillion for March 2020, when market activities were pushed higher by the Covid-induced volatility. With the latest figure, the total market volume on Cboe FX surpassed the $1 trillion mark for the fourth time in its operational history.

The total monthly volume on the platform came in about 33 percent higher than in February. On a year-over-year basis, the figure jumped by 8.8 percent. The average daily volume for the latest month on Cboe FX came in at more than $48.3 billion, compared to $41.8 billion in February 2023 and $44.4 billion in March 2022.

According to past market trends, trading volume skyrockets in March, pushing the overall figure for the quarter higher. The case is true for Cboe FX, as it ended the first three months of 2023 with more than $2.8 trillion in total trading volume and an ADV of $43.8 billion, making it an all-time record quarter for the spot FX platform.

Outside America

However, the yearly demand trend was a bit different in Europe and Japan. 360T, a major spot FX venue in Europe owned by the Deutsche Borsa Group, reported a total monthly trading volume of more than $563 million compared to $530.9 billion at the end of February. However, the demand dropped significantly year-over-year as the European platform handled over $655 billion in trading volume in March 2022.

In Japan, Click 365, which is owned by Tokyo Financial Exchange and offers FX futures, reported a 41.1 percent month-over-month jump in March demand as more than 3.3 million contracts changed hands. However, the FX futures demand on the platform fell by 3.1 percent year-over-year.

GMO's new investment and Komainu enhances custody; read today's news nuggets here.

Institutional trading platforms are publishing metrics for March, when the demand skyrocketed compared to previous months. Cboe FX, an institutional venue for spot foreign exchange trading, ended the month with $1.1 trillion in total forex trading volume, the platform's second-best monthly figure.

Activities on Cboe FX Soar in March

The figure reported for March is only behind Cboe's previously reported record of $1.2 trillion for March 2020, when market activities were pushed higher by the Covid-induced volatility. With the latest figure, the total market volume on Cboe FX surpassed the $1 trillion mark for the fourth time in its operational history.

The total monthly volume on the platform came in about 33 percent higher than in February. On a year-over-year basis, the figure jumped by 8.8 percent. The average daily volume for the latest month on Cboe FX came in at more than $48.3 billion, compared to $41.8 billion in February 2023 and $44.4 billion in March 2022.

According to past market trends, trading volume skyrockets in March, pushing the overall figure for the quarter higher. The case is true for Cboe FX, as it ended the first three months of 2023 with more than $2.8 trillion in total trading volume and an ADV of $43.8 billion, making it an all-time record quarter for the spot FX platform.

Outside America

However, the yearly demand trend was a bit different in Europe and Japan. 360T, a major spot FX venue in Europe owned by the Deutsche Borsa Group, reported a total monthly trading volume of more than $563 million compared to $530.9 billion at the end of February. However, the demand dropped significantly year-over-year as the European platform handled over $655 billion in trading volume in March 2022.

In Japan, Click 365, which is owned by Tokyo Financial Exchange and offers FX futures, reported a 41.1 percent month-over-month jump in March demand as more than 3.3 million contracts changed hands. However, the FX futures demand on the platform fell by 3.1 percent year-over-year.

GMO's new investment and Komainu enhances custody; read today's news nuggets here.

About the Author: Arnab Shome
Arnab Shome
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6420 Articles
  • 84 Followers

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