Cboe FX Reports Weaker Volumes for February 2019

Cboe FX disclosed a total trading volume of $690 billion, down 13 percent month-over-month from $799 billion in January.

Cboe’s institutional spot FX platform on Friday reported ‎its trading volumes for the month ending February 2019, which saw a ‎notable drop compared to a month ago.

During February 2019, Cboe FX disclosed a total trading volume of $690 billion, down 13 percent on a month-over-month basis from $799 billion in January 2019‎. In a similar pattern, the figure was lower by 22 percent year-over-year when weighed against $884 billion in February 2018.

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In addition, the exchange’s institutional FX trading venue saw its average daily trading volumes amounting to $34.5 billion in February 2019, down five percent month-over-month from $36.3 billion in January 2019.

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On a year-over-year basis, the ADV numbers released by Cboe FX, formerly Hotspot, illustrated weaker performance, falling by 22 percent when weighed against $44.2 billion a year earlier.‎

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February had been a less active month compared to January, where currencies volatility benefited off rising geopolitical tensions, concerns about US-led trade wars with China and the prospect a global economic growth boom is nearing its peak. Key currency pairs have departed its wait-and-see mode seen in December where they were stuck in narrow price ranges.

Cboe made headlines earlier after it resubmitted its Bitcoin exchange-traded fund (ETF)proposal in collaboration with money management firm VanEck and blockchain company SolidX for the Securities and Exchange Commission’s (SEC) approval.

Last year, the company withdrew an application to list a bitcoin derivatives ETF after the SEC said it wouldn’t review a petition for a fund that intends to invest in virtual assets that aren’t yet available. In addition, the agency refused to grant an exemption that would have let SolidX become the first bitcoin-based ETF to launch on the New York Stock Exchange (NYSE).

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