FxSpotStream Volumes Rises to $1.54 Trillion, Third Month in a Row

by Damian Chmiel
  • Volumes rebound from the December low, with an ADV of $57.6 billion.
  • However, year-on-year performance is worse than in March 2022.
FXSpotStream header
FM

FXSpotStream, the provider of multibank FX aggregation services, has announced its trading metrics for March 2023. The company recorded a total monthly volume of $1.54 trillion, which is up 6.2% from the previous month's total volume of $1.26 trillion.

FxSpotStream Reports Higher MoM Volumes in March 2023

FXSpotStream's ADV for March 2023 was $66.8 billion, representing a 6.2% month-over-month (MoM) increase from the previous month's ADV of $62.9 billion. Despite the MoM increase, the ADV decreased by 4.8% year-over-year (YoY), standing at $66.8 billion for March 2023 compared to $70.2 billion in March 2022.

Analyzing volumes since the beginning of the year, we can see increasing market activity and a steady increase in value. This is a significant rebound in ADV from the low in December 2022, when the results reached $57.6 billion. It was already $61 billion in January and almost $63 billion in February, as mentioned above.

FxSpotStream volumes
FxSpotStream volumes

FXSpotStream's March 2023 trading volumes were spread over 23 trading days, compared to 20 trading days in February 2023 and 22 trading days in January 2023.

FxSpotStream volumes by month
FxSpotStream volumes by month

The aggregation service continues to serve a broad range of clients, including streaming liquidity providers such as Barclays, BofA Merrill Lynch, Societe Generale, Citi, and Commerzbank. The company's multibank FX aggregation services provide its clients with a reliable, high-speed, and transparent platform for trading spot FX.

Finance Magnates reported that Alan F. Schwarz, who co-founded FXSpotStream in August 2011, ended his 11-year-plus journey with the company in February.

FxSpotStream Compared to Other Venues

The increase in total volume for last month is driven by the uptick in market activity across the industry, with other institutional venues reporting similar increases.

Cboe FX, for instance, reported a 17.9% increase in total volume in March 2023 compared to the same period last year. The reported figure for March comes in second only to Cboe's record of $1.2 trillion for March 2020, when market activity surged due to the Covid-induced volatility .

However, for units outside of America, the results turned out to be more mixed, as was the case with FxSpotStream. In Japan, Click 365, which offers FX futures and is owned by Tokyo Financial Exchange, reported a 41.1% MoM increase in demand for March as more than 3.3 million contracts were exchanged. However, the demand for FX futures on the platform decreased by 3.1% YoY.

360T, a prominent spot FX venue in Europe owned by the Deutsche Borsa Group, recorded a total monthly trading volume of over $563 million for March, which is up from $530.9 billion in February. However, the demand was significantly lower YoY, as the platform handled over $655 billion in trading volume in March 2022.

FXSpotStream, the provider of multibank FX aggregation services, has announced its trading metrics for March 2023. The company recorded a total monthly volume of $1.54 trillion, which is up 6.2% from the previous month's total volume of $1.26 trillion.

FxSpotStream Reports Higher MoM Volumes in March 2023

FXSpotStream's ADV for March 2023 was $66.8 billion, representing a 6.2% month-over-month (MoM) increase from the previous month's ADV of $62.9 billion. Despite the MoM increase, the ADV decreased by 4.8% year-over-year (YoY), standing at $66.8 billion for March 2023 compared to $70.2 billion in March 2022.

Analyzing volumes since the beginning of the year, we can see increasing market activity and a steady increase in value. This is a significant rebound in ADV from the low in December 2022, when the results reached $57.6 billion. It was already $61 billion in January and almost $63 billion in February, as mentioned above.

FxSpotStream volumes
FxSpotStream volumes

FXSpotStream's March 2023 trading volumes were spread over 23 trading days, compared to 20 trading days in February 2023 and 22 trading days in January 2023.

FxSpotStream volumes by month
FxSpotStream volumes by month

The aggregation service continues to serve a broad range of clients, including streaming liquidity providers such as Barclays, BofA Merrill Lynch, Societe Generale, Citi, and Commerzbank. The company's multibank FX aggregation services provide its clients with a reliable, high-speed, and transparent platform for trading spot FX.

Finance Magnates reported that Alan F. Schwarz, who co-founded FXSpotStream in August 2011, ended his 11-year-plus journey with the company in February.

FxSpotStream Compared to Other Venues

The increase in total volume for last month is driven by the uptick in market activity across the industry, with other institutional venues reporting similar increases.

Cboe FX, for instance, reported a 17.9% increase in total volume in March 2023 compared to the same period last year. The reported figure for March comes in second only to Cboe's record of $1.2 trillion for March 2020, when market activity surged due to the Covid-induced volatility .

However, for units outside of America, the results turned out to be more mixed, as was the case with FxSpotStream. In Japan, Click 365, which offers FX futures and is owned by Tokyo Financial Exchange, reported a 41.1% MoM increase in demand for March as more than 3.3 million contracts were exchanged. However, the demand for FX futures on the platform decreased by 3.1% YoY.

360T, a prominent spot FX venue in Europe owned by the Deutsche Borsa Group, recorded a total monthly trading volume of over $563 million for March, which is up from $530.9 billion in February. However, the demand was significantly lower YoY, as the platform handled over $655 billion in trading volume in March 2022.

About the Author: Damian Chmiel
Damian Chmiel
  • 1479 Articles
  • 29 Followers
About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 1479 Articles
  • 29 Followers

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