Euronext Fastmatch Reveals Weak FX Volumes for July 2019

July figures incorporate, for the first time, all Oslo Børs exchange activity.

Euronext, the first pan-European exchange, today announced its trading volumes and metrics for July 2018, which incurred a sizable year-over-year decline, and also failed to secure some growth over June’s metrics.

During July 2019, the exchange’s volumes, which span Belgium, France, the Netherlands, Portugal, and the UK, were unable to build on consecutive yearly growth, despite seeing an upward trending movement in recent months. This downbeat performance came despite July figures incorporate, for the first time, all Oslo Børs exchange activity.

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The franco-dutch exchange operator has recently completed the acquisition of Norway’s stock exchange Oslo Bors, valuing it at around 6.8 billion Norwegian crowns ($779 million).

The FX trading venue of Euronext has reported trading volumes for July, which also took a step back last month. Fastmatch is reporting a total of $16.80 billion that has changed hands last month, representing a 16.1 percent decline compared to July 2018.

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Additionally, the average trading volume metric was lower on a month-over-month basis, falling approximately by 12.8 percent relative to $19.27 billion in June 2019.

Cboe’s institutional spot FX platform, which is also a big player in the foreign exchange market, reported a 16 percent fall in average volumes compared to the previous year, with its average daily trading volumes amounting to $27.5 billion in July 2019.

Weak metrics for other segments

Elsewhere, Euronext’s average daily cash orders came in at €7.19 billion, down 10.5 percent year-over-year from July 2018. This reading was also lower over a monthly timeframe, rising by 15 percent from €7.6 billion in June 2018.

In terms of other segments at Euronext, the group’s exchange-traded-funds (ETFs) were unable to register growth in trading activity during July 2019. This segment’s ADV fell €193 million, down 9.6 percent month-over-month from €227 million in June 2019. This reading was also lower a yearly timeframe, falling by 15 percent year-over-year from July 2018.

Euronext’s equity index derivatives also retreated in July 2019, coming in at 502,577 contracts, or 13.4 percent lower month-over-month. Additionally, the ADV of individual equity derivatives were pointed lower in July 2019 to 228,018, down 17.3 percent lower month-over-month.

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