A wider weight of EMFX might have given the CBOE the edge, while the summer lull set into the market.
As is commonplace for August, trading volumes at Fastmatch were more or less flat when compared to July. The total amount even increased by 1.5 percent to reach $447.5 billion, but due to the number of trading days last month the figure is not representative of performance. The more precise average daily volumes (ADVs) metric declined by 3 percent to $19.5 billion per day.
The figures were significantly higher when compared to last year, growing 20 percent. Despite the traditional seasonal decline in trading activity, performance continued to be brisk, in line with significantly higher interest in foreign Exchange during 2018.
CBOE FX Growth
Looking at the CBOE’s foreign exchange subsidiary formerly known as Hotspot, we see a different picture. Total trading volumes have increased by 10 percent when compared to July, netting $802 billion, while average daily volumes ticked higher by 5 percent to $34.9 billion. Both numbers were higher by 29 percent when compared to 2017.
Emerging markets FX (EMFX) has been the dominant theme in August as Turkish president Erdogan has committed to usurping power in the country. His interference in the job of the central bank has yielded significant pressure on the Turkish lira. Contagion followed, spreading the turmoil to other emerging market currencies such as the South African rand and the Mexican peso.
Overall Trends
With US labor day ahead of us, activity on the foreign exchange market is expected to rebound in the coming weeks. The turmoil in Turkey is nowhere near over, while the US Fed is expected to hike rates twice more this year. Chairman Powell has to show to the market that he is politically independent, while President Trump is trying to jawbone the US dollar lower.
The foreign exchange market has been much more active in terms of volume when compared to 2017. Volatility peaked in the first half of the year but the new catalysts which are on the horizon could see increasingly dynamic markets causing even more activity across the institutional space.
As is commonplace for August, trading volumes at Fastmatch were more or less flat when compared to July. The total amount even increased by 1.5 percent to reach $447.5 billion, but due to the number of trading days last month the figure is not representative of performance. The more precise average daily volumes (ADVs) metric declined by 3 percent to $19.5 billion per day.
The figures were significantly higher when compared to last year, growing 20 percent. Despite the traditional seasonal decline in trading activity, performance continued to be brisk, in line with significantly higher interest in foreign Exchange during 2018.
CBOE FX Growth
Looking at the CBOE’s foreign exchange subsidiary formerly known as Hotspot, we see a different picture. Total trading volumes have increased by 10 percent when compared to July, netting $802 billion, while average daily volumes ticked higher by 5 percent to $34.9 billion. Both numbers were higher by 29 percent when compared to 2017.
Emerging markets FX (EMFX) has been the dominant theme in August as Turkish president Erdogan has committed to usurping power in the country. His interference in the job of the central bank has yielded significant pressure on the Turkish lira. Contagion followed, spreading the turmoil to other emerging market currencies such as the South African rand and the Mexican peso.
Overall Trends
With US labor day ahead of us, activity on the foreign exchange market is expected to rebound in the coming weeks. The turmoil in Turkey is nowhere near over, while the US Fed is expected to hike rates twice more this year. Chairman Powell has to show to the market that he is politically independent, while President Trump is trying to jawbone the US dollar lower.
The foreign exchange market has been much more active in terms of volume when compared to 2017. Volatility peaked in the first half of the year but the new catalysts which are on the horizon could see increasingly dynamic markets causing even more activity across the institutional space.
Swiss Exchange SIX Partners with Dubai Financial Market for Dual Listings
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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