CBOE FX Posts Highest Monthly Volumes since October 2014

Ever since July, the electronic FX business of CBOE is performing briskly. Formerly known as Hotspot FX and BATS Hotspot, it was rebranded to get into a broader portfolio of markets.

For a fourth consecutive month, the trading volumes on CBOE FX are trending higher. During November, the average daily trading volume transacted via the Electronic Communications Network (ECN) Electronic Communications Network (ECN) Electronic Communications Network or ECNs are execution venues which are providing the infrastructure for matching buyers with sellers. Electronic trading is traditionally used in OTC products and outside of exchanges. An ECN normally functions as an electronic system that disseminates orders entered by market makers to third parties. In doing so, an ECN permits the orders to be executed against in whole or in part. The most common products that are traded on ECNs are stocks and currencies, maki Electronic Communications Network or ECNs are execution venues which are providing the infrastructure for matching buyers with sellers. Electronic trading is traditionally used in OTC products and outside of exchanges. An ECN normally functions as an electronic system that disseminates orders entered by market makers to third parties. In doing so, an ECN permits the orders to be executed against in whole or in part. The most common products that are traded on ECNs are stocks and currencies, maki Read this Term) totaled $34 billion, a figure which is higher by 6 percent month-on-month. Compared to the previous year, that was materially affected by the US election, the number is up 12 percent.

Total trading volumes amounted to $747.4 billion, which is the highest number since October 2014. The metric is higher by 6 percent when compared to the previous month 2017 and by 12 percent when compared to the same month last year.

While volatility remained low, substantial two-way interest underpinned trading volumes in November. The figures across major trading venues are looking upbeat amid increasingly tight ranges for FX majors.

Trading during the month was led by the US dollar and the British pound in the final days leading into a critical risk event. The prospects for a tax reform on Capitol Hill triggered a hopeful rally in the dollar early on, but brisk European growth numbers and the prospective break in Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term negotiations led the euro and the British pound higher towards the end of the month.

Japanese yen trading was influenced by mostly external factors with the reelection of Shinzo Abe cementing the Bank of Japan’s QE policy.