FX Volumes Rise at Integral in August, Steps Back at Cboe

Trading desks at some of the largest players in the foreign exchange market were grappling with mixed volumes.

Cboe Global Markets, Inc. (Cboe: CBOE | NASDAQ: CBOE) has reported its trading statistics for August 2020, which saw a wavering performance across FX business.

Cboe’s institutional spot FX platform‎ disclosed a total trading volume for FX contracts at $603 billion, down 13 percent on a month-over-month basis from $690 ‎billion in July 2020‎. This figure was even lower by 17.3 percent year-over-year when weighed against $728 billion in August 2019.

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In addition, the exchange’s institutional FX trading venue saw its average daily trading volumes amounting to $28.7 billion in August 2020, down 4 percent month-over-month from $30 billion in July 2020.

On a year-over-year basis, the ADV numbers released by Cboe FX, formerly Hotspot, illustrated weaker performance, falling by 13 percent when weighed against $33 billion a year earlier.‎

Cboe FX turnover crossed the $1 trillion milestone in March amid coronavirus-driven volatility that has shaken awake previously slumbering FX markets.

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Mixed Metrics Elsewhere

Elsewhere, currency trading on Integral’s trading platforms rose more than 15 percent in August 2020 from a year earlier as increased volatility across financial markets led to greater activity on the institutional FX venue, the company said.

Average daily volumes topped $39.8 billion last month, which is up 6.4 percent compared with the figures from the month before and was also up nearly 20 percent relative to August 2019.

Trading desks at some of the largest players in the foreign exchange market were also grappling with mixed volumes. The trend of weaker turnover was observed in the monthly figures from Interactive Brokers while August’s ADV figure was higher at FXSpotStream’s trading venue.

Other institutional FX platforms, including CLS and Thomson Reuters, are also expected to report a modest rise in volumes of last month as volatility picked up.


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