FXSpotStream volumes rise YoY in July, down on a monthly basis

abdelaziz Fathi

Foreign exchange trading volumes across FXSpotStream LLC platforms rose 19 percent on a yearly basis in July 2021, data showed on Monday.

Currency derivatives volumes explode in 2015

FXSpotStream reported an average daily volume (ADV) of $49.9 billion, which was higher than the $40.1 billion reported back in July 2020.

Over a monthly interval, the ADV metric in July 2021 decreased by 2.4 percent when weighed against $49.0 billion in June 2021.

July 2021 saw a total of 22 trading days, the same as it had been in the month prior. In terms of total volumes at FXSpotStream, last month showed $1,054 billion, which was higher by more than 13 percent year-on-year from $929 ‎billion in July 2020.

As countries across the world are seeing a resurgence in COVID-19 cases after successfully slowing outbreaks earlier in the year, trading activity is posting new highs at many FX platforms. These difficult conditions could become increasingly common as investors fear the impact of Delta variant, which pumped up FX hedging trades.

FXSpotStream provides a multibank FX aggregation service for spot FX trading. The platform operates as a bank-owned consortium that provides the infrastructure to facilitate the route of trades from clients to liquidity providers.

FXSpotStream’s 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 that operate with centralized order book systems for their participants.

Activity on FXSpotStream’s trading venue has been consolidating around the $1 trillion mark over the last year. The aggregator service of LiquidityMatch LLC reported a record $1.37 trillion in total volumes for March 2020.

Other institutional FX platforms including Thomson Reuters, Cboe FX and CLS are expected to report a consolidation in volumes for July as volatility remain consistent and the secular trend of rising FX volumes comes into play again.

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