Institutional spot currency trading in November 2023 showed mixed results among major market operators, including Cboe FX, Deutsche Börse's 360T, Euronext FX, and Click 365. For the American Cboe FX, however, results remained above the $1 trillion threshold for the second consecutive month, a remarkably rare occurrence.

Cboe FX Reports Slightly Lower ADV in October 2023

For the US-based Cboe FX, October 2023 saw a slight halt in the recent monthly volume increases, although the decline was marginal. The total trading volume in November was $1.01 trillion compared to $1.03 trillion in the previous month. Like October, November had 22 trading days.

The average daily volume (ADV) also declined, falling from October's $46.75 billion to $45.91 billion in November. These were, however, better results than what Cboe reported in September and August.

It's noteworthy that exceeding $1 trillion in monthly volume is historically rare, having occurred only six times since 2017, twice in the last two consecutive months.

Finance Magnates recently reported that Cboe Digital, a subsidiary of Cboe Global Markets, partnered with Crossover Markets Group, a digital asset market launched last year by two former Jefferies directors.

360T, Euronext FX and Click365 Show Mixed Results

The number of trading days in Europe was the same as in the United States, but the results reported by different institutions were mixed, as in previous months.

360T Deutsche Börse, a leading European institutional FX trading platform, reported a volume of $595.87 billion in November, up from October's $567.97 billion. However, due to a higher number of trading days in November, the ADV decreased to $27.09 billion compared to $28.4 billion reported in previous months.

Euronext FX, a significant ECN for spot FX and precious metals, reported trading volumes of $534.94 billion, marking a significant jump from $507.79 billion in October. The ADV also increased from $23.08 billion to $24.32 billion despite more trading days in November.

On the Asian market, Click 365, an FX platform of the Tokyo stock exchange, also published its results. The total number of traded contracts was 2,223,992, a 7.6% increase compared to October. However, similar to previous months, the year-on-year dynamic was down by 26.5%. The ADV for Click 365 contracts in October was 101,090.

Last week, we also reported on the profitability of retail clients in the FX/CFD markets. Traders of TeleTrade, Saxo Bank, and CFI achieved the highest profitability among the top 20 brokers by volume.