NEX Group Posts Small Rebound in June Trading Volumes

The electronic marketplace for foreign exchange transactions is reporting an isolated month-on-month increase.

NEX Markets, the electronic markets subsidiary of NEX Group, has just published its latest trading volumes report. During the month of June, the company reports an increase of 2 percent month-on-month in its spot foreign exchange transactions business, marking $83.3 billion daily.

The number is lower by 12 percent when compared to last year, however a special factor is in play with the UK Brexit referendum sharply distorting the numbers in June 2016.

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For the 12 months ending June 30th 2017 the SpotFX unit of NEX Markets marked an average of $82.6 billion daily, which is lower by 5 percent when compared to the same period ending in June last year.

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Trading volumes declined across the industry when compared to last year, primarily due to the distortion which Brexit volumes brought in June 2016. At the same time, monthly trading volumes in June 2017 have been widely reported lower by foreign exchange brokers. The main reason for the decline is low volatility when compared to the month of May.

Save for the final trading days of last month, trading activity declined materially with recent ranges being broken only during the final days of June.

NEX Group’s electronic trading subsidiary also marked a decline in trading of US Treasuries on a month-on-month and year-on-year basis to a total of $166.1 billion daily. US and European Repos rose by 13 and 23 percent year-on-year to $226.5 billion and $220.2 billion.

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