Cboe FX volumes rose to $952.01 billion compared to August 2023.
360T reported higher numbers, while Euronext FX and Click365 showed lower monthly turnover.
According
to the latest data from Cboe FX, Deutsche Börse's 360T, Euronext FX, and Click
365, institutional investors showed mixed results in spot currency trading in September
2023. While Cboe reported a noticeable increase despite fewer trading days,
volumes in Japan shrank by nearly 17% compared to August 2023.
Cboe FX Reports Strong
September Volumes
The
American Cboe FX's total trading volume in September was higher than in August
despite fewer trading days. The September figure was $952.01 billion, compared
to $944.44 billion reported a month earlier.
With 21
trading days compared to 23 in August, this value led to a significant increase
in average daily volumes (ADV), which rose by over $4 billion to $45.33 billion
from $41.06 billion.
Turning
attention outside the US, 360T Deutsche Börse, a leading European institutional
FX trading platform, reported a volume of $585.77 billion over 20 trading days
in September.
This
represents a significant rebound from a sluggish August, where volumes were at
$508 billion and still lower than the July level of $616.6 billion. Finance
Magnates' calculations indicate that the ADV for this period was $29.29
billion.
Source: 360T
For
Euronext FX, a volume decline from $518 billion to $503 billion was reported in
September. However, this figure was better than the July report, which showed volumes
at $492 billion. The ADV for 21 trading days was $23.95 billion.
Source: Euronext
In Asia,
and specifically with Japan's Click365 operating under the Tokyo Financial
Exchange (TFX), the declines in volume were the most severe. The number of
contracts traded fell 16.7% month-over-month to 1,917,266. On a yearly
basis, this was a decline of 46.8%.
Research
conducted by BCG Expand confirms the mixed nature of these results. As
seen below, revenues from currency operations among the top 100 banks dropped more than 15% in the first six months of 2023.
If this pattern continues, it could mean a
second revenue decline in three years.
According
to the latest data from Cboe FX, Deutsche Börse's 360T, Euronext FX, and Click
365, institutional investors showed mixed results in spot currency trading in September
2023. While Cboe reported a noticeable increase despite fewer trading days,
volumes in Japan shrank by nearly 17% compared to August 2023.
Cboe FX Reports Strong
September Volumes
The
American Cboe FX's total trading volume in September was higher than in August
despite fewer trading days. The September figure was $952.01 billion, compared
to $944.44 billion reported a month earlier.
With 21
trading days compared to 23 in August, this value led to a significant increase
in average daily volumes (ADV), which rose by over $4 billion to $45.33 billion
from $41.06 billion.
Turning
attention outside the US, 360T Deutsche Börse, a leading European institutional
FX trading platform, reported a volume of $585.77 billion over 20 trading days
in September.
This
represents a significant rebound from a sluggish August, where volumes were at
$508 billion and still lower than the July level of $616.6 billion. Finance
Magnates' calculations indicate that the ADV for this period was $29.29
billion.
Source: 360T
For
Euronext FX, a volume decline from $518 billion to $503 billion was reported in
September. However, this figure was better than the July report, which showed volumes
at $492 billion. The ADV for 21 trading days was $23.95 billion.
Source: Euronext
In Asia,
and specifically with Japan's Click365 operating under the Tokyo Financial
Exchange (TFX), the declines in volume were the most severe. The number of
contracts traded fell 16.7% month-over-month to 1,917,266. On a yearly
basis, this was a decline of 46.8%.
Research
conducted by BCG Expand confirms the mixed nature of these results. As
seen below, revenues from currency operations among the top 100 banks dropped more than 15% in the first six months of 2023.
If this pattern continues, it could mean a
second revenue decline in three years.
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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