Institutional ADV in Spot FX Market Rises for 2nd Month in a Row

<p>The demand
for institutional foreign <a href="https://www.financemagnates.com/terms/e/exchange/">exchange</a> (FX) trading rebounded in June for the
second consecutive month, despite a lower number of trading days than in May.
This trend can be observed in the latest results published by Cboe FX Markets,
Deutsche Börse's 360T, and Tokyo Financial Exchange's Click365.</p><p>Cboe Reports an Increase
in Spot FX Volumes in June</p><p>According
to official data, Cboe FX Markets reported total volumes in the currency market
at $965.4 billion, which is <a href="https://www.financemagnates.com/institutional-forex/spot-fx-institutional-soars-in-may-yet-could-not-surpass-march-peak/" target="_blank" rel="follow">nearly $30 billion higher than in May</a>.
The total value was higher even though there were fewer trading days in June,
numbering 22 (compared to 23 in May).</p><p>This
translated into a higher average daily volume (ADV) value. It reached
$43.9 billion, growing $3 billion month-over-month (MoM). This is also the
highest value since March and a better result than what was recorded in June 2022.
At that time, the ADV index for Cboe FX Markets was $39.7 billion, with 22
trading days.</p><p>Two months
ago, <a href="https://www.financemagnates.com/institutional-forex/cboes-global-fx-revenue-rises-8-yoy-in-q1/" target="_blank" rel="follow">Cboe Global Markets published a quarterly report</a>, highlighting the
achievement of a series of new records by Cboe FX in the first three months of
2023. The spot FX quarterly ADV in this period was $43.9 billion, growing 7.2% compared to Q1 2022.</p><p>ADV Also Grows in Europe
and Asia</p><p>Looking at
the market outside the USA, it is worth taking a closer look at 360T, the
largest institutional FX <a href="https://www.financemagnates.com/terms/t/trading-platform/">trading platform</a> in Europe. The total volume in the FX
market was $537.2 billion in June, slipping compared to May when the turnover
reached nearly $600 billion.</p><p>However,
the ADV value was slightly larger and amounted to $26.9 billion compared to
$25.3 billion reported a month earlier. The difference results from the lower
number of trading days in the past month compared to May.</p><p>In the
Japanese market, <a href="https://www.financemagnates.com/tag/click365/" target="_blank" rel="follow">Click365</a>, an FX derivatives venue operated by the Tokyo
Financial Exchange, achieved a trading volume of 28 million contracts, which translates
to a MoM growth of 10.4% compared to 24 million contracts reported in May. The
average daily number of contracts also increased significantly, from 108,000 to 125,000. However, there was a strong annual decline of
32.8%.</p>

This article was written by Damian Chmiel at www.financemagnates.com.