Cboe FX volume makes strong rebound in January

abdelaziz Fathi

Cboe’s institutional spot FX platform today announced its trading volume for the month ending January 2023, which marks a mild rebound after a steep fall in December.

Cboe FX disclosed a total trading volume of $902 billion, up 17 percent on a month-over-month basis from $773 billion in December‎. In addition, this figure was higher by 18 percent year-over-year when weighed against $768 billion in January 2022.

The exchange’s institutional FX trading venue saw its average daily trading volumes amounting to $41 billion in January 2023, up 16.7 percent month-over-month from $35 billion the previous month.

On a year-over-year basis, the ADV numbers released by Cboe FX, formerly Hotspot, illustrated stronger performance, rising by 13 percent when weighed against $36 billion a year earlier.‎

We last reported on Cboe FX earlier in December when oneZero added it to the vast network of liquidity providers and venues within its EcoSystem. The move provided the business with access to over 200 FX brokerages that make more than 10 million transactions and 150 billion quotes per day across retail and institutional FX markets.

Cboe FX brings the benefits of an independent, transparent market structure, and will take advantage of custom liquidity pools to meet participants’ execution criteria, with configurable firm and non-firm streaming quotes for tailored liquidity needs.

While at the Annual FIA Futures and Options Expo, FinanceFeeds aslo caught up with James Arrante, senior director of FX & UST product and business management at Cboe Global Markets, to uncover emerging trends in the FX and fixed assts markets and learn more about the bourse operator’s recent initiatives.

Arrante highlighted their expanding model, which has grown to include four different entities and seven platforms in total. Cboe’s FX business now covers disclosed trading solutions, outright deliverable forwards, and non-deliverable forwards (NDFs) through Cboe SEF. That, according to Arrante, covers all manners of how clients interact in the market and provides greater control of the trading process, enabling better execution and lower transaction costs for their global customer base.

Liquidity management has been a key focus at Cboe FX over the past few years, coupled with adding extensive analytics capabilities. The company operates an electronic foreign exchange trading venue that permits certain institutions to enter into spot transactions with their preferred counterparties to meet their specific trading needs.

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