CBOE And Börse’s 360T Report Declines In Institutional Spot FX In October

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Two institutional spot forex trading platforms Deutsche Börse’s 360T and Cboe FX have published their trading metrics for October. Both firms reported monthly declines but a much-improved number year-over-year.

According to the report by Cboe FX, the company realized a total monthly volume of more than $896 billion in October. This comes with an average daily volume (ADV) of $42.6 billion. The figures declined by 11.1% from the previous month. Cboe had a total of 21 trading days in October compared to 22 days in September.

360T Reported a Similar Decline For The Month

Cboe’s total trading and ADV in October are far higher than the volume recorded in the same month last year. The company realized a total monthly volume of $717.5 billion, with an ADV of $34.1 billion in October last year. This means that the figures improved by 25% and 24.9%, respectively.

360T is another FX trading platform that reported a similar trading decline in October, compared to its September volume. The platform realized a trading volume of $499.3 billion and an ADV of $23.7 billion in October. It also saw a monthly ADV decline of 13% in October. However, the figure was higher by 7.5% from the same month last year.

The platform, owned by Deutsche Börse, also offers forex non-fungible forwards (NFWs) to institutional traders, an increasingly popular trading instrument. According to the trading result, the total trading volume for the month came in at $257 billion. This represents a decline from the previous month’s volume of $324 billion. On the same note, the ADV declined by 7% from the previous month. And just like is the case with the Spot FX, the demand for NDFs surged yearly by over 82% for Cboe.

Click365’s Trading Performance For October Remained Flat

On the Japanese forex derivatives trading venue, Click365 trading demand in October remained flat MoM. It only had a slight increase of 0.4%. But the YoY demand surged 46.9% after more than 3.6 million FX futures contracts were recorded in the month.

Meanwhile, the Bank of International Settlements (BIS) revealed that the global forex trading market reached a daily ADV of $7.5 trillion in April last year.

About Ali Raza PRO INVESTOR

Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Invezz.com, Business2Community, BeinCrypto, and more.