- November 2, 2022
- Posted by: AliensFaith
- Category: OBJECTIVE PRESS
FXSpotStream LLC, a provider of multibank FX aggregation services for spot FX trading, reported October’s total monthly trading volume to be more than $1.45 trillion. The monthly average daily volume (ADV) came at over $69.1 billion.
The ADV declined by 5.8 percent compared to the previous month’s $73.3 billion. However, the figure strengthened by 37 percent when compared year-over-year.
There were 21 trading days last month compared to 22 in September.
FXSpotStream is a bank-owned consortium established in 2011. Along with its services in the institutional spot forex market, the platform has extended services in the derivatives market. In addition, it launched the much-anticipated support for FX Algos and Allocations over its API, thus expanding its services.
Despite the month-over-month decline in trading demand, October remained one of the best months for the best months in its operational history. The reported monthly figures only remained behind September and March, which was the record month for the platform, with $70.1 billion in ADV.
Also, though there were monthly fluctuations in trading volume, the figures around 2022 significantly strengthened year-over-year, mostly in double digits.
An Industry-Wide Trend
FXSpotStream is not the only platform to report a monthly slump and strong yearly figures for October. It was an industry-wide trend for the month, as other significant platforms reported a similar pattern in their figures.
Cboe FX reported an ADV of $42.6 billion for October, while Deutsche Bourse’s 360T posted $23.7 billion. The figures on the platforms declined 7 percent and 13 percent, respectively, month-over-month. However, they came in stronger by 25 percent and 7.2 percent, respectively, year-over-year.
This article was written by Arnab Shome at http://www.financemagnates.com.
