Euronext FX Volumes at Record $441 Billion in February

Continuing a very strong start to the year for institutional FX platforms, pan-European Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Euronext today reported that February FX turnover shot higher by 35 percent from January, with average daily trading volumes coming in at $23.2 billion.

That marks the best month ever for Euronext FX, formerly FastMatch. On a year-over-year basis, February volumes were also above those reached in the same month a year ago.

In terms of its aggregated monthly turnover, Euronext FX reported a record $441 billion last month, up 23 percent from the $398 billion that has changed hands during January 2020. This figure was also higher 29 percent from $363 billion in February 2019.

The daily foreign exchange volumes had also improved by the same percentage over a yearly basis, up from $18.4 billion in the same month the previous year. The ADV on the spot foreign exchange market of Euronext FX stood at $17.3 billion in January. For the year 2019, the average daily volume at Euronext FX was reported at $18.28 billion, down 9.2 percent compared to the year 2018.

After several lackluster months, the latest metrics from major institutional spot FX platforms show the FX market has bounced back with hefty jumps in daily trading volumes. This, however, led some retail investors to experience slowness and technical issues related to heavy trade volumes. Due to higher than usual volumes, free trading app Robinhood experienced a system-wide outage at the open on Monday.

Founded as a joint venture by the Swiss bank Credit Suisse and FX broker FXCM in 2012, Euronext FX (formerly FastMatch) provides an electronic currency Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term mostly for institutional clients such as banks, asset managers and hedge funds. The FX unit of the franco-dutch exchange operator operates an electronic communication network (ECN) for currency trading and has matching engines in New York, London, Tokyo, and Singapore.

FastMatch was acquired by Euronext in 2017 as part of the exchange’s strategy to diversify its top line and extend its proposition to an additional asset class.