Cboe FX Starts Q4 with Strong Trading Volumes, But Lags YoY

Cboe FX disclosed a total trading volume of $728 billion, up 14% month-over-month from $637 ‎billion in September.

Cboe’s institutional spot FX platform on Friday reported ‎its trading volumes for the month ending October 2019, which saw a ‎positive performance as a rise in volatility encouraged more buying and selling ‎of currencies relative to the month prior.‎

During October 2019, Cboe FX disclosed a total trading volume of $728 billion, up 14 percent on a month-over-month basis from $637 ‎billion in September 2019‎. In a different pattern, the figure was lower by 13 percent year-over-year when weighed against $841 billion in October 2018.

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In addition, the exchange’s institutional FX trading venue saw its average daily trading volumes amounting to $31.8 billion in October 2019, up 4.3 percent month-over-month from $30.3 billion in September 2019.

On a year-over-year basis, the ADV numbers released by Cboe FX, formerly Hotspot, illustrated weaker performance, falling by 13.4 percent when weighed against $36.6 billion a year earlier.‎

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Taking a quarterly perspective, Cboe’s institutional venue saw its total trading volumes amounting to $1.99 trillion in the third quarter of 2019, down five percent from $2.11 trillion in Q2 and also lower by 11 percent when compared with the year prior.

Cboe strengthens FX business

Earlier today, Cboe Global Markets published its financial results for the third quarter of 2019, with higher trading volumes resulting in an uptick in revenues and operating income. Total revenues for Cboe, which is the largest options exchange in the United States, came in at $294.0 million for the third quarter.

Liquidity management has been a key focus at Cboe FX over the past year, coupled with adding extensive analytics capabilities. The company has recently launched an electronic foreign exchange trading venue that permits certain institutions to enter into spot transactions with their preferred counterparties to meet their specific trading needs.

Dubbed ‘Cboe FX Point,’ the new direct execution model provides institutional investors with a flexible range of options, including the ability to create custom, relationship-based connections.

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