FXSpotStream Sees $1.39T in June, Rebounds for Second Consecutive Month

<p>FXSpotStream
released its trading metrics for June 2023 today (Monday), reporting its second
consecutive month of growth in total trading volume following a significant dip
in April. Last month, the total volume recorded by the New Jersey-based
provider of multibank price streaming services for FX spot and swaps, climbed
by 9% month-over-month (MoM) to $1.39 trillion, rising from <a href="https://www.financemagnates.com/institutional-forex/fxspotstreams-trading-volumes-bounce-back-to-128t-in-may/" target="_blank" rel="follow">$1.28 trillion
generated in May</a>.</p><p>FXSpotSream Fails to Break Above March Peak</p><p>In the
latest figure, FXSpotStream reported an increase of 13.5% in its average daily
volume (ADV). This is as the daily average rose from $55.5 billion in May to
approximately $63 billion last month. </p><p>Earlier in
May, total volumes had risen by 14% MoM to $1.28 trillion, with the
daily average increasing marginally by 0.4% to $55.5 billion. These figures trailed 28%
and 17.2% decreases in total
volume and ADV, respectively, recorded in April. </p><p>However, while FXSpotStream’s
latest total monthly and daily average volumes represent a two-month high, they
failed to break above the best performance recorded so far this year: $1.54
trillion in total volume and $66.8 billion in daily average, which were posted in
March. </p><p>Finance Magnates reported that FXSpotStream’s volumes jumped during
the first three months of 2023, only dropping for the first time in
April. </p><p>Spot FX
Market Rises for 2nd Month in a Row</p><p>Meanwhile, the two-month consecutive increase
in spot FX volume is not unique
to FXSpotStream, whose European arm recently <a href="https://www.financemagnates.com/institutional-forex/fxspotstream-europe-boosts-revenues-and-net-income-in-2022-by-34/" target="_blank" rel="follow">grew its net profit by
34%</a>. According
to the latest data from Cboe FX Markets, Deutsche Börse's 360T, and Tokyo
Financial Exchange's Click365, the demand for institutional forex trading <a href="https://www.financemagnates.com/institutional-forex/institutional-adv-in-spot-fx-market-rises-for-the-2nd-month-in-a-row/" target="_blank" rel="follow">rebounded in June</a> for the second consecutive
month, despite a
lower number of trading days compared to May.</p><p>In terms of
total volumes, while Cboe FX generated $965.4 billion, 360T’s came in at $537.2
billion. On the other hand, Click365 posted a trading volume of 28 million
contracts, translating to an MoM growth of 10.4%.</p><p>USD LIBOR ceases; MetaTrader Web Terminals change addresses; <a href="https://www.financemagnates.com/forex/news-nuggets-3-july-usd-libor-ceases-metatrader-web-terminals-change-addresses/" target="_blank" rel="follow">read today's news nuggets</a>.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.