FXSpotStream volumes rebound to $1.27 trillion in May

abdelaziz Fathi

Trading volumes on institutional FX platforms surged in May as traders increased their bets on central bankers’ policy with evidence mounting that inflation and economic growth are not yet losing momentum.

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for May 2023, which moved higher on a monthly basis. Specifically, May’s total turnover came in at $1.27 trillion, which was up 15.4 percent from $1.10 trillion in the previous month. On a yearly timetable, the figure was virtually unchanged from $1.27 trillion in May 2022.

The total monthly volume across FXSpotStream’s streaming and matching products was comfortably above the $1.2 trillion mark throughout 2023. The activity got off to a strong rebound as the financial markets kicked off the year in high gear, with a multitude of factors helping steer volumes across several venues.

Meanwhile, May’s average daily volume (ADV) was reported at $55.5 billion. The ADV metric was up from $55.3 billion in April 2023, but was down 5 percent year-over-year when compared with $58 billion in May 2022.

FXSpotStream was in the news last month when it appointed Jeremy Rose to the role of senior VP and head of liquidity management.

Jeremy’s crucial role involves overseeing and optimizing the liquidity solutions at the multibank foreign exchange (FX) aggregation service provider that offers clients access to liquidity from multiple global banks.

Jeremy Rose brings more than two decades of experience to his role. He previously served as head of active trading relationship management for more than seven years at Thomson Reuters. With a career dating back to 2001, he possesses a strong background in finance and treasury operations, with a deep understanding of liquidity management principles and practices.

FXSpotStream operates a 24/5 service, enabling clients to trade major currency pairs and select emerging market currency pairs during global trading hours. The platform supports various trading protocols, including FIX API, GUI, and third-party order management systems, to accommodate diverse client needs.

Jeremy will be responsible for developing and implementing liquidity management strategies, closely monitoring client positions, and forecasting future requirements. To that end, Jeremy will collaborate with various teams within FXSpotStream, such as finance and risk management, to establish effective liquidity policies and procedures.

Read this next

Digital Assets

Binance tames up with Japan’s biggest lender to launch stablecoins

Binance Japan is planning to launch stablecoins denominated in the dollar, euro, and yen in Japan in 2024. The crypto exchange aims to introduce these tokens, and possibly more, through its partnership with Mitsubishi UFJ Financial Group’s trust banking arm.

Institutional FX

Spot FX volumes drop +10% at CLS in August 2023

Total daily traded volume submitted to CLS for settlement took a step back in August as the summer typical lull hit market activity. The metrics showed a weak performance in the group’s FX business as the Q3 got off to a calm end while no fresh events were able to whip up a market frenzy.

Digital Assets

Veteran iGaming Team Launch Crypto Casino Portal

CryptoCasinos.Casino launches as a premier destination for crypto gambling aficionados, offering in-depth reviews, comparisons, and resources to navigate the burgeoning world of cryptocurrency-based casinos seamlessly.

Digital Assets

Xsolla Announces Acquisition of AcceleratXR, A Multi-Player Platform For Games

Xsolla enhances its gaming tech suite with the acquisition of AcceleratXR, bolstering cross-platform game development and pioneering advancements in cross-play experiences for players worldwide.

Digital Assets

OKX’s PoR report shows no solvency concerns, assets worth $11.2 billion

Cryptocurrency exchange OKX has released its 11th consecutive proof-of-reserves report amid increasing demand of crypto investors asking for transparency from exchanges they trade with.

Digital Assets

Horizen Launches Decentralized Governance with Introduction of Horizen DAO

Horizen inaugurates a novel decentralized autonomous organization, inviting broader community participation and heralding a new chapter in blockchain governance.

Digital Assets

Binance France induces users to convert their fiat into crypto

Following the expiration of its partnership with Paysafe, Binance France urged its customers to convert their fiat currency holdings on the platform into cryptocurrencies.

Industry News

Exness Crowned as Best Global Multi-asset Broker at Forex Expo Dubai 2023

Cyprus-based Exness garners top honors at the Forex Expo Dubai, solidifying its esteemed position in the global financial arena.

Retail FX

CySEC cancels license of 101investing parent following €200,000 fine

The Cyprus Securities and Exchange Commission (CySEC) confirmed on Tuesday that it has wholly withdrawn the Cyprus Investment Firm (CIF) License of FX retail brokerage firm FXBFI Broker Financial Invest Ltd, trading as 101investing.