FX traders came back in force at CME Group during December following the Fed meeting and interest rate changes.
Among FX brokers and trading venues, the chorus over the last few months of 2015 was that the market was waiting for the US Fed to make a move on interest rates. With the Fed meeting in the beginning of December, this meant subdued speculation from many FX traders during November and for some, even October. This environment was clearly reflected in trading volumes, and November marked a low for many FX participants.
With December arriving, and the Fed raising interest rates for the first time since 2006, expectations for renewed activity delivered results across the trading industry. Reporting their figures, FX trading at CME Group showed a sharp turn higher in December volumes compared to November’s quiet month.
During the month, total FX futures and options volumes were 19.41 million contracts, or 924,282 contracts on an average daily volume (ADV) basis and $90 billion on a dollar notional basis. The ADV was 30.4% above November’s results. However, similar to results from Hotspot and FastMatch, FX trading at CME during December was below the same period in 2014, contracting by 7.7%.
Interestingly, volume growth was led by futures which outperformed the increase in options trading. In periods of rising speculation in the past, FX options tended to see higher growth than that of FX futures. As such, December’s trading behavior may have revealed that traders aren’t yet willing to be aggressive with their speculation on how changing interest rates will affect currencies as much as rebalancing their portfolios after the Fed meeting. If the latter, it may result in sluggish activity for the start of 2016.
Among individual currencies, trading in euro futures led all FX contracts. Along with the Canadian dollar futures, the two were the only major currencies to have also experienced year over year volume increases, in addition to growing when compared to November.
Elsewhere, it is worth noting the sharp year over year drop in Swiss franc futures trading. Trading over 1.15 million contracts in December 2014, that figure compared to only 607,833 in the same period in 2015. The drop off is worth noting in that despite a lack of Volatility in the Swiss franc in December 2014, the activity related that speculation in the currency was high prior to the Swiss National Bank’s decision in January 2015 to remove its 1.20 floor to the EURCHF Exchange rate.
Among FX brokers and trading venues, the chorus over the last few months of 2015 was that the market was waiting for the US Fed to make a move on interest rates. With the Fed meeting in the beginning of December, this meant subdued speculation from many FX traders during November and for some, even October. This environment was clearly reflected in trading volumes, and November marked a low for many FX participants.
With December arriving, and the Fed raising interest rates for the first time since 2006, expectations for renewed activity delivered results across the trading industry. Reporting their figures, FX trading at CME Group showed a sharp turn higher in December volumes compared to November’s quiet month.
During the month, total FX futures and options volumes were 19.41 million contracts, or 924,282 contracts on an average daily volume (ADV) basis and $90 billion on a dollar notional basis. The ADV was 30.4% above November’s results. However, similar to results from Hotspot and FastMatch, FX trading at CME during December was below the same period in 2014, contracting by 7.7%.
Interestingly, volume growth was led by futures which outperformed the increase in options trading. In periods of rising speculation in the past, FX options tended to see higher growth than that of FX futures. As such, December’s trading behavior may have revealed that traders aren’t yet willing to be aggressive with their speculation on how changing interest rates will affect currencies as much as rebalancing their portfolios after the Fed meeting. If the latter, it may result in sluggish activity for the start of 2016.
Among individual currencies, trading in euro futures led all FX contracts. Along with the Canadian dollar futures, the two were the only major currencies to have also experienced year over year volume increases, in addition to growing when compared to November.
Elsewhere, it is worth noting the sharp year over year drop in Swiss franc futures trading. Trading over 1.15 million contracts in December 2014, that figure compared to only 607,833 in the same period in 2015. The drop off is worth noting in that despite a lack of Volatility in the Swiss franc in December 2014, the activity related that speculation in the currency was high prior to the Swiss National Bank’s decision in January 2015 to remove its 1.20 floor to the EURCHF Exchange rate.
Devexperts Teams Up with nuam Exchange to Boost Equity and Derivatives Trading
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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