Euronext FX Volumes See Mild Drop in December as Christmas Weighs

In terms of its aggregated monthly turnover, Euronext FX reported $437 billion.

Pan-European exchange, Euronext has reported an eight percent drop in the average daily volume on its spot foreign exchange market. The ADV figure stood at $19.8 billion in December 2020, which is down from November’s $21.5 billion.

Taking a year-over-year perspective, Euronext’s currency turnover was higher by 24 percent from $16.0 billion reported back in December 2019.

In terms of its aggregated monthly turnover, Euronext FX reported $437 billion, which is down -3.4 percent from $452 billion that changed hands in the previous month.

The average trading volume in 2019 was below the $20 billion mark, but the volume has jumped to record levels this year due to frenzied buying and selling activities. Trading has been driven by investor fears that despite the new vaccines, coronavirus will continue to put a damper on the world economy.

Euronext Discontinues FX Tape Streaming Service

Euronext has discontinued its FX Tape service, which provides a central reference point for prices of spot FX transactions, as Finance Magnates reported last month.

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The termination occurred around 31 December 2020 and, as a consequence, the FX Tape volume chart was removed from the Euronext FX website.

Initially launched three years ago with FastMatch, Euronext FX Tape is modelled on similar projects for other asset classes such as equities, and it consists of ECNs, banks and other financial institutions engaged in the FX market to provide a last-sale data feed with price, size and timestamps. The idea itself makes sense due to the decentralized and international nature of the FX markets and the lack of a single regulatory authority sitting above it.

Euronext operates bourses in Paris, Amsterdam, Brussels, London, Lisbon and Dublin. The group had experienced technical glitches in October, which froze all transactions in Amsterdam, Brussels, Lisbon and Paris for more than three hours when much of the key trading activity happens.

The glitches were the latest in a string of breakdowns that hit retail, institutional and exchange platforms this year, including a ‘technical problem’ and ‘failure’ with Deutsche Boerse’s Xetra and Eurex platforms. Furthermore, the New Zealand stock exchange (NZX) was hit with DDoS attacks that took the NZX website down for nearly a week.

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