January FX volumes drop 1% at the CME compared to December 2014, but options trading buoyed by speculation in euro rose steadily from December's levels.
Early indications are that despite last month’s Black Swan Swiss franc event, FX volumes traded in January have remained around the strong levels experienced during the last four months of 2014. Figures from the CME Group support this notion, with average daily volumes (ADV) of futures and options only declining slightly by 1% to 945,940** contracts when compared to December 2014’s activity. On a dollar notional level, volumes averaged around $103 billion in daily trading. Outperforming and showing growth were FX options trading, of which ADV grew 15.6% to 96,146 contracts. The spike in options trading has been consistent with previous trends where the product has outperformed futures growth during periods of rising volatility.
In individual currencies, the euro led all products with a total of 5,560,315 contracts traded. The increase in January's euro volumes occurred as the currency hit multi-year lows against other major currencies following the ECB’s most recent monetary policy meeting. Also of note, despite volatility returning, Swiss franc futures volumes declined versus December. The fall in activity is believed to be attributed to an increase in minimum margins established by the CME Group for franc trading.
Worth noting is that even among options, franc volumes decreased, showing an overall decrease of trader involvement in the currency. Also possibly affecting volumes has been an overall increase in spreads for franc products since volatility returned to the currency.
Like futures, trading in euro options led all products, with activity in the currency rising 33% on an average daily basis to 61,116 contracts. The rise in euro options trading indicates increased speculation among traders on the direction of the currency following more aggressive monetary policy actions by the ECB.
**In the CME's internal calculations, they use a 20 day period for January. According to their calculations, Month over Month contract volumes rose by 4% and to $108 billion from $107 billion on a notional rate. Forex Magnates ADV calculations use a 21 day period for the CME which compares to calculations used by major FX platforms. The difference stems from the January 19th Martin Luther King Holiday where FX trading was halted for five hours in recognition of the holiday, and the entire day removed from the CME's trading period calculation.
Early indications are that despite last month’s Black Swan Swiss franc event, FX volumes traded in January have remained around the strong levels experienced during the last four months of 2014. Figures from the CME Group support this notion, with average daily volumes (ADV) of futures and options only declining slightly by 1% to 945,940** contracts when compared to December 2014’s activity. On a dollar notional level, volumes averaged around $103 billion in daily trading. Outperforming and showing growth were FX options trading, of which ADV grew 15.6% to 96,146 contracts. The spike in options trading has been consistent with previous trends where the product has outperformed futures growth during periods of rising volatility.
In individual currencies, the euro led all products with a total of 5,560,315 contracts traded. The increase in January's euro volumes occurred as the currency hit multi-year lows against other major currencies following the ECB’s most recent monetary policy meeting. Also of note, despite volatility returning, Swiss franc futures volumes declined versus December. The fall in activity is believed to be attributed to an increase in minimum margins established by the CME Group for franc trading.
Worth noting is that even among options, franc volumes decreased, showing an overall decrease of trader involvement in the currency. Also possibly affecting volumes has been an overall increase in spreads for franc products since volatility returned to the currency.
Like futures, trading in euro options led all products, with activity in the currency rising 33% on an average daily basis to 61,116 contracts. The rise in euro options trading indicates increased speculation among traders on the direction of the currency following more aggressive monetary policy actions by the ECB.
**In the CME's internal calculations, they use a 20 day period for January. According to their calculations, Month over Month contract volumes rose by 4% and to $108 billion from $107 billion on a notional rate. Forex Magnates ADV calculations use a 21 day period for the CME which compares to calculations used by major FX platforms. The difference stems from the January 19th Martin Luther King Holiday where FX trading was halted for five hours in recognition of the holiday, and the entire day removed from the CME's trading period calculation.
Institutional FX Demand Continues to Climb in April
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.
Don't miss out on this 5-second invite packed with energy and urgency!
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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
#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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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.
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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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.
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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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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