The volume surged 10%, hitting a record $73.6 billion.
It was a continuation of the solid end to 2023.
FM
The start of the new year saw a significant rebound in spot foreign exchange
trading volumes reported by FXSpotStream. According to data for January 2024,
the total average daily volume (ADV) increased 10% both month-on-month and
year-on-year, reaching $73.6 billion.
FXSpotStream Volumes Rise
in January
The number
of trading days in January was one more than in December for the FX electronic
liquidity distribution provider, totaling 22 days. As a result, the total
monthly volumes rose to $1,619 billion last month.
Looking at
the spot market data, the ADV reached $57.7 billion in January, improving 10% compared to December, when this figure was $49.2 billion. The year-on-year
change was very similar, at 9%, compared to $49.7 billion reported for spot ADV
in the same period a year earlier.
Source: Finance Magnates, FxSpotStream
Notably,
the spot ADV and total ADV values reported by FXSpotStream are the highest
since at least 2019. FXSpotStream does not provide data for earlier years on
its website.
The high
January performance aligns with the strong results achieved throughout 2023,
especially towards the end. As Finance Magnates reported, FXSpotStream reported
a total ADV of $70 billion in November.
FXSpotStream's New
Liquidity Pool and New CEO
Last month,
the company announced that Wells Fargo has joined as the 16th liquidity
provider on its foreign exchange price streaming service. This is the first new
liquidity provider added since NatWest joined over a year ago in 2023. Prior to
NatWest, no new entities had joined FXSpotStream's liquidity pool since 2020.
FXSpotStream's
Chief Technology Officer, Tom San Pietro, stated that the addition of Wells
Fargo demonstrates the high interest from banks to join as liquidity providers.
He said that FXSpotStream's growth, client service, performance and reliability
have made it an appealing platform.
Following
Schwarz's departure, San Pietro temporarily filled the CEO role until Ward's
official appointment, which was confirmed via a LinkedIn post. The transition
comes as FXSpotStream, an electronic FX liquidity distribution provider, looks
to continue expanding its liquidity pool and client base under new permanent
leadership.
The start of the new year saw a significant rebound in spot foreign exchange
trading volumes reported by FXSpotStream. According to data for January 2024,
the total average daily volume (ADV) increased 10% both month-on-month and
year-on-year, reaching $73.6 billion.
FXSpotStream Volumes Rise
in January
The number
of trading days in January was one more than in December for the FX electronic
liquidity distribution provider, totaling 22 days. As a result, the total
monthly volumes rose to $1,619 billion last month.
Looking at
the spot market data, the ADV reached $57.7 billion in January, improving 10% compared to December, when this figure was $49.2 billion. The year-on-year
change was very similar, at 9%, compared to $49.7 billion reported for spot ADV
in the same period a year earlier.
Source: Finance Magnates, FxSpotStream
Notably,
the spot ADV and total ADV values reported by FXSpotStream are the highest
since at least 2019. FXSpotStream does not provide data for earlier years on
its website.
The high
January performance aligns with the strong results achieved throughout 2023,
especially towards the end. As Finance Magnates reported, FXSpotStream reported
a total ADV of $70 billion in November.
FXSpotStream's New
Liquidity Pool and New CEO
Last month,
the company announced that Wells Fargo has joined as the 16th liquidity
provider on its foreign exchange price streaming service. This is the first new
liquidity provider added since NatWest joined over a year ago in 2023. Prior to
NatWest, no new entities had joined FXSpotStream's liquidity pool since 2020.
FXSpotStream's
Chief Technology Officer, Tom San Pietro, stated that the addition of Wells
Fargo demonstrates the high interest from banks to join as liquidity providers.
He said that FXSpotStream's growth, client service, performance and reliability
have made it an appealing platform.
Following
Schwarz's departure, San Pietro temporarily filled the CEO role until Ward's
official appointment, which was confirmed via a LinkedIn post. The transition
comes as FXSpotStream, an electronic FX liquidity distribution provider, looks
to continue expanding its liquidity pool and client base under new permanent
leadership.
Damian Chmiel is a Senior Analyst & Editor at Finance Magnates with more than 15 years of experience in the CFD and online trading industry. Active as both a trader and journalist since 2010, he focuses on broker coverage, fintech innovation, and regulatory developments across Europe, the Middle East, and Asia.
His work includes interviews with C-level leaders at major brokerages and fintech platforms, as well as co-authoring Finance Magnates’ quarterly industry benchmarking reports. Damian’s reporting is data-driven, market-aware, and grounded in direct industry engagement. His analysis and commentary have also been cited by external media outlets, including Investing.com, Binance, The Asset, Stockhead, and Dispatch.
Education:
MA in Finance and Accounting, Cracow University of Economics
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Watch the full video to see if Hola Prime Markets fits your trading needs.
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Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
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Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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