FXSpotStream volumes hit seven-month high in October

abdelaziz Fathi

Foreign exchange trading volumes across FXSpotStream LLC platforms rose in October 2021 to its highest level since March, data showed on Monday.


FXSpotStream reported an average daily volume (ADV) of $50.4 billion, which was 30 percent higher than the $38.9 billion reported back in October 2020.

Over a monthly interval, the ADV metric in October 2021 increased by 4.4 percent when weighed against $48.35 billion in September 2021. It also hit its highest point in seven months.

October 2021 saw a total of 21 trading days compared to 22 in the month prior. In terms of total volumes at FXSpotStream, the last month showed $1.06 trillion, slightly down month-on-month from $1.63 trillion in September. Over a yearly basis, the figure was up 24 percent from $855 billion in October 2020.

The total monthly volume across FXSpotStream’s streaming and matching products was comfortably above the $1 trillion mark for the second consecutive month. The activity got off to a strong rebound as the financial markets kicked off the fourth quarter in high gear, with a multitude of factors helping steer volumes across several venues. These difficult conditions could become increasingly common as investors brace for plenty of hurdles as they move into the holiday season, which pumps up FX hedging trades.

With nobody having a clue so far, other institutional FX platforms, including Cboe FX, CLS, and Thomson Reuters, are also expected to report higher trading activity. The secular trend of rising FX volumes will stay into play in October as global markets remain hostage to developments involving the coronavirus and central banks’ policies, which are currently top of mind.

FXSpotStream is offering is a client-to-bank platform, with each liquidity taker required to ‎create individual credit relationships with participating banks.‎ This differs from other multi-dealer platforms, such as FX ECNs like Hotspot and ‎EBS Markets, which operate with centralized order book systems for their participants.

Earlier in October, the aggregator service of LiquidityMatch LLC has upgraded its offering with the deployment of a new low-latency architecture. FSS said the new architecture will be deployed globally in order to improve its platform’s market data processing times, particularly for latency-sensitive strategies. The recent improvements are expected to slash data processing times “under all market conditions” to below 250 microseconds.

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