Cboe reports rebound in FX institutional volumes for November

abdelaziz Fathi

Cboe’s institutional spot FX platform on Tuesday reported ‎its trading volumes for November 2021, which saw a ‎positive performance as a rise in volatility encouraged more buying and selling ‎of currencies relative to the month prior.‎

During November 2021, Cboe FX disclosed a total trading volume of $776 billion, up 8 percent on a month-over-month basis from $717 ‎billion in October‎. In a different pattern, the figure was lower by 1.6 percent year-over-year when weighed against $789 billion in November 2020.

In addition, the exchange’s institutional FX trading venue saw its average daily trading volumes amounting to $35.2 billion in November 2021, up 3 percent month-over-month from $34 billion in October 2021.

On a year-over-year basis, the ADV numbers released by Cboe FX, formerly Hotspot, illustrated weaker performance, falling by 7 percent when weighed against $37.5 billion a year earlier.‎

Cboe FX turnover crossed the $1 trillion milestone in 2020 amid coronavirus-driven volatility that has shaken awake previously slumbering FX markets. However, activity at major institutional ECNs has been consolidating this year as intense chaos triggered by Covid-19 lost some steam.

The venue also hit its yearly peak for 2021 in March at $880 billion. Since then, demand for Cboe’s versatile products has been muted as concerns over the COVID-19 pandemic and uncertainty surrounding the FED’s policy drove many investors onto the sidelines.

Cboe widens FX market share

Cboe’s foreign exchange franchise saw its market share at a new all-time high of 17.0 percent in the Q3 2021 compared to 15.9 percent in last year’s third quarter.

Despite a challenging cost environment, Cboe’s Global FX posted $14.3 million in net revenue during the third quarter, up 8 percent over a yearly basis. Average daily turnover traded on the Cboe FX platform was $32.4 billion for the quarter, up 7 percent from last year’s third quarter while net capture per one million dollars traded was $2.77.

Cboe FX Markets teamed up in October with the London-based market maker to launch a hosted algorithmic execution service. The connection between XTX Markets and Cboe comes as algo trading as an execution strategy gains popularity with FX traders.

XTX Markets’ Execution Algo will enable Cboe FX users to benefit from its implementation shortfall execution algorithm, which aims to reduce slippage to arrival price. The institutional FX venue has also secured exclusive rights over use of the XTX Algo in the anonymous ECN space.

Read this next

Digital Assets

SEC apparently approved Ether ETF as VanEck’s listed by DTCC

Amid increasing speculation about the possible approval of a spot Ether (ETH) exchange-traded fund (ETF) in the United States, global investment manager VanEck’s ETF has been listed by the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol “ETHV.”

blockdag

Unlocking Investment Potential: Introducing MoonBag Presale, the Cryptocurrency Set to Surpass ApeCoin and Bitbot

Discover MoonBag Presale, the cryptocurrency set to surpass ApeCoin and Bitbot. Unlock your investment potential now!

Fintech

Playtech sees promising growth despite dispute with Caliplay

Gambling technology group Playtech plc (LSE: PTEC) reported solid financial results for the four months to April 30 as B2B growth and Snaitech’s record performance pushed it towards large gains in revenue.

Chainwire

Multipool Launches LBP on Fjord Foundry Raising $200k in 24 Hours

Multipool, a leading innovator in the blockchain and cryptocurrency industry, launched their Fjord Foundry LBP on May 21st, raising $200k in the first 24 hours.

Chainwire

$BEER, a New Solana-Based Memecoin completes Pre-Sale of 30,000 SOL this week

The Liquid Gold, $BEER, has become the most discussed topic on Solana over the past two weeks. $BEER has skyrocketed into Twitter trends across Europe & Asia, captivating beer lovers worldwide.

Digital Assets

Hong Kong regulator orders Worldcoin to cease operations over privacy concerns

Hong Kong’s privacy regulator has ordered Worldcoin Foundation to cease all operations of its cryptocurrency project in the city, citing risks to privacy and personal data.

Inside View

MT4 vs MT5: Which Should You Choose for Crypto Trading?

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two sophisticated trading platforms developed by MetaQuotes Software. Although MT4 is the more widely adopted choice, traders must determine which platform is better suited for them and understand the reasons behind this choice. Here’s everything you need to know.

Digital Assets

Intentable.io Launches Intent-Centric Architecture and Marketplace

Discover how Intentable.io, formerly Kiroboflow, is revolutionizing blockchain interactions with its Intent-Centric Architecture and new marketplace for intent-based strategies.

Digital Assets

Crypto ETFs, retail trading spike as Bitcoin nears record highs

BlackRock’s spot bitcoin exchange-traded fund (ETF), which trades under the ticker IBIT on Nasdaq, saw a record amount of cash injection after a quiet few weeks of net outflows. The healthy metrics came as bitcoin briefly traded above the $71,000 level for the first time in a month.

<