Euronext Sees Uptick in FX Trading, Mixed Derivatives in March

Spot FX trading was higher by 16 per cent month-on-month.

Euronext, a pan-European exchange, announced its trading volumes for the month of March 2019 this Friday. So far this year, exchanges and brokers have recorded mixed trading results, and Euronext appears no different. However, the exchange did manage to achieve solid results in its foreign exchange (forex) trading unit.

As Finance Magnates reported at the beginning of this month, the FX trading venue of Euronext, FastMatch reported solid trading volumes during the third month of 2019.

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Specifically, the average daily volume (ADV) on the spot FX market of FastMatch was $21.039 billion. When measuring this against the previous month, which had an ADV of $18.14 billion, March’s value is higher by 16 percent. On a yearly comparison, March’s figure has managed to climb by 12.1 percent, the statement released today said.

Taking a look at cash trading, during the month, the average daily transaction value on the exchange’s cash order book was €7.724 billion ($8.670 billion), which represents a decline of 13 percent year-on-year but an uptick of 5.6 percent from the previous month.

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Derivatives Trading Produces Mixed Results on Euronext

In March of this year, the overall ADV on derivatives for the European exchange rose by 1.7 percent when measured against March of 2018, to hit 597,534 contracts. However, this is down on a monthly comparison by 7 percent.

Taking a closer look, the ADV for equity index derivatives reached 233,574 contracts. While this is higher than that achieved in February by 8.8 percent, it is down on an annual comparison by 7.3 percent.

The performance of individual equity derivatives, however, achieved the opposite results. At 318,375 contracts, March’s performance was up by 10.3 percent from March of 2018 but lower by 11.4 percent from the previous month.

For the first quarter of 2019, the overall ADV for Euronext derivatives was 585,867 contracts. This figure is less than that reported in the first quarter of 2018, falling slightly by 1.5 percent.

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