Trading Volumes Rebound at Cboe FX as Volatility Returns

Cboe FX disclosed a total trading volume of $799 billion, up 19 percent on a month-over-month basis.

Cboe’s institutional spot FX platform on Friday reported ‎its trading volumes for the month ending January 2019, which saw a ‎positive performance as a rise in volatility from holiday lows encouraged more buying and selling ‎of currencies at major institutional venues.‎

During January 2019, Cboe FX disclosed a total trading volume of $799 billion, up 19 percent on a month-over-month basis from $671 ‎billion in December 2018‎. In a different pattern, the figure was lower by 14 percent year-over-year when weighed against $937 billion in January 2018.

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In addition, the exchange’s institutional FX trading venue saw its average daily trading volumes amounting to $36.3 billion in January 2019, up 8.3 percent month-over-month from $33.5 billion in December 2018.

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On a year-over-year basis, the ADV numbers released by Cboe FX, formerly Hotspot, illustrated weaker performance, falling by -15 percent when weighed against $42.6 billion a year earlier.‎

January had been an active month, with currencies volatility benefiting off rising geopolitical tensions, concerns about U.S.-led trade wars with China and the prospect a global economic growth boom is nearing its peak. Key currency pairs have departed its wait-and-see mode seen in December where they were stuck in narrow price ranges.

Crypto ETF Developments

Cboe made headlines earlier today after it resubmitted its Bitcoin exchange-traded fund (ETF) proposal in collaboration with money management firm VanEck and blockchain company SolidX for the Securities and Exchange Commission’s (SEC) approval.

Last year, the company withdrew an application to list a bitcoin derivatives ETF after the SEC said it wouldn’t review a petition for a fund that intends to invest in virtual assets that aren’t yet available. In addition, the agency refused to grant an exemption that would have let SolidX become the first bitcoin-based ETF to launch on the New York Stock Exchange (NYSE).

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