2020 has so far proven to be a good year for foreign exchange (trading) for Cboe, with its institutional spot FX platform reporting the best monthly trading volume in February of this year since October of 2018.
During the month of February 2020, Cboe achieved a total volume of $825.1 billion – the strongest monthly volume since October of 2018, which achieved a monthly trading volume of $841.2 billion.
With the total trading volume coming at $825.1 billion for the month, the average daily trading volume was $41.3 billion. The results for February have been achieved across 20 trading days, which is the lowest number of days since June of last year.
Comparing Cboe volumes
So how do February’s results compare? When measuring it against January’s total volume of $739.0 billion, February has posted a monthly gain of 11.6 percent. On a yearly comparison, spot FX trading has increased by 19.5 percent.
Why Ethereum Needs Layer 2 Solutions More Than EverGo to article >>
2020 has delivered consistently solid trading results for the institutional platform. As Finance Magnates reported, last month Cboe FX disclosed a total trading volume of $739 billion, up 17.7 percent on a month-over-month basis from $628 billion in December 2019. In a different pattern, the figure was lower by 7.5 percent year-over-year when weighed against $799 billion in January 2019.
Out of the whole month, the final trading day of February, which was the 28th of February, saw a surge in FX spot trading, delivering a daily trading volume of $75.0 billion. The worst trading day for the platform came on the 17th of February 2020, when the company noted a daily trading volume of $16.9 billion.
February’s solid results represent the third consecutive monthly growth for the institutional spot forex trading platform, with December bringing a welcome turnaround from a particularly weak performance in November.