Euronext reveals flat FX volumes for June 2022

abdelaziz Fathi

Euronext reported its operational metrics for June 2022, which moved higher on a yearly basis but reflected a zero change across executed trade volumes when weighed against the figures of the prior month.

Average daily traded volume submitted to Euronext was virtually unchanged month-over-month, coming in at $23.1 billion, the same as it had been in May. Across a yearly timetable, the figure reflected an advance by 23.6 percent relative to June’s 2021 figure of $19.3 billion.

In terms of its aggregated monthly turnover, Euronext FX reported $510 billion, which is marginally higher from $509 billion that changed hands in the previous month.

Following the boom in activity seen at major FX trading venues over the last three years, the institutional ECNs were in a sea of red over the last few months. Almost all institutional platforms reported double-digit drops in their monthly volumes.

Euronext, which operates stock and derivatives markets in countries such as France, the Netherlands and Belgium, also said its total derivatives trading was higher 4.8 percent. The figure was reported at 16.1 million contracts a day in June compared to 15.4 in the month prior. It was slightly down when weighed against 2021’s turnover of 16.2 million contacts.

Founded as a joint venture by the Swiss bank Credit Suisse and FX broker FXCM in 2012, Euronext FX (formerly FastMatch) provides an electronic currency trading platform  mostly for institutional clients such as banks, asset managers and hedge funds. The FX unit of the franco-dutch exchange operator operates an electronic communication network (ECN) for currency trading and has matching engines in New York, London, Tokyo, and Singapore.

FastMatch was acquired by Euronext in 2017 as part of the exchange’s strategy to diversify its top line and extend its proposition to an additional asset class.

In 2020, Euronext discontinued its FX Tape service, which provided a central reference point for prices of spot FX transactions. Initially launched in 2017, Euronext FX Tape was modelled on similar projects for other asset classes such as equities, and it consists of ECNs, banks and other financial institutions engaged in the FX market to provide a last-sale data feed with price, size and timestamps.

 

Read this next

Institutional FX

FXSpotStream volumes hit 14-month high in November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2023, which moved higher on a monthly basis.

Digital Assets

Circle denies ties with Palestinian groups, TRON founder

Stablecoin issuer Circle has denied allegations that it facilitates funding for terrorist organizations.

Retail FX

CySEC hits operator of Titanedge, TradeEU with €90,000 fine

The Cyprus Securities and Exchange Commission (CySEC) announced that it has imposed a fine of €90,000 on Titanedge Securities Ltd due to shortcomings in their regulatory obligations.

Institutional FX

Cboe FX volumes retreats slightly in November 2023

Cboe’s institutional spot FX platform today announced its trading volume for the month ending November 2023, which took a step back after a strong rebound in October.

Institutional FX

Alpha Group seals Cobase majority acquisition

Foreign exchange service provider Alpha Group International plc (AIM: ALPH) has finalized its acquisition of Financial Transaction Services, operating as Cobase.

Digital Assets

TMNG Tokens Successfully Listed on MEXC Crypto Exchange

TMN Global proudly announces the successful listing of its native TMNG token on the MEXC crypto exchange, effective December 1st, 2023. This strategic partnership marks a significant milestone for TMN Global in the crypto space.

Institutional FX

Marex completes acquisition of TD Cowen’s PB business

London-headquartered commodities broker Marex has completed the acquisition of TD Cowen’s prime brokerage and outsourced trading business, which will be integrated into Marex’s capital market division. This division was established following the acquisition of ED&F Man Capital Markets in 2022.

Digital Assets

Talos introduces decentralized liquidity and onchain settlement with Uniswap and Fireblocks

“At the cornerstone of the DeFi ecosystem, Uniswap has the breadth of assets and depth of liquidity that institutional traders need. And to have this partnership powered by Fireblocks, a digital assets infrastructure provider trusted by some of the most renowned institutions, is very fitting.”

Digital Assets

FINMA-regulated crypto bank SEBA Bank rebrands to AMINA

“As we look forward to 2024, our ambition is to accelerate the growth of our strategic hubs in Switzerland, Hong Kong, and Abu Dhabi, and to continue our global expansion, building on all the successes we have laid down over the past years.”

<