Foreign exchange trading volumes across FXSpotStream LLC platforms rose 38 percent on a yearly basis in December 2020, data showed on Monday.
FXSpotStream reported an average daily volume (ADV) of $42.8 billion, which was higher than the $31.1 billion reported back in December 2019. Additionally, this figure was 27 percent greater than Cboe HotSpot’s ADV of $3.68 billion.
Over a monthly interval, the ADV metric in December 2020 decreased by 3.8 percent when weighed against $44.5 billion in November 2020. In the previous month, the company reported its third-highest ADV on record.
December 2020 saw a total of 22 trading days, compared with 21 days in the month prior. In terms of total volumes at FXSpotStream, last month showed $941 billion, which was higher by more than 37 percent year-on-year from $684 billion in December 2019.
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As countries across the world are seeing a resurgence in COVID-19 cases after successfully slowing outbreaks earlier in the year, trading activity is posting new highs at many FX platforms. Since then, monthly volumes have been on a winning streak that is unprecedented in the modern era of financial markets.
FXSpotStream provides a multibank FX aggregation service for spot FX trading. The platform operates as a bank-owned consortium that provides the infrastructure to facilitate the route of trades from clients to liquidity providers.
FXSpotStream’s offering is a client-to-bank platform, with each liquidity taker required to create individual credit relationships with participating banks. This differs from other multi-dealer platforms, such as FX ECNs like Hotspot and EBS Markets that operate with centralized order book systems for their participants.
Earlier in December, the company bolstered its team globally with the addition of Hajime Merg Limani as the Regional Support Manager for Americas.