After a brief period on muteness in the growth in trading volume, brokers and exchanges have started reporting a better October month compared to previous months. Though the growth in trading volume has been modest, but it’s a relief for the Fx industry which was under severe pressure after the strong uptick in volumes in the first few months.
Institutional Forex ECN Cboe FX Markets has reported a marginal increase in trading volumes compared to previous month, but it is still well below the daily volumes it has seen in the first half of the year. This is the third month in a row with a modest climb in trading volumes.
The average daily volumes during the October came in at $36.3 billion compared to $35.8 billion in the previous month, which is almost 1.4 per cent increase. In the first half of the year, Cboe Fx had ADV of $40 billion.
The most active pair was the EUR/USD which contributed 24.6 per cent of total trading, next is USD/JPY at 16.7 per cent, GBP/USD at 8.6 per cent, AID/USD at 8.4 per cent and USD/CAD at 6.2% to the total trading.
After slow September, the Forex ECN FastMatch has witnessed a modest increase in the average daily volume of 3 per cent from $18.6 billion to $19.2 billion. Despite the increase, the volumes are well below the $20-$22 billion range which was seen in the first few months of the year.
The Tokyo Financial Exchange released its October operational metrics, reporting a combined increase of 31.3 per cent in trading volume for all TFX products month over month.
The trading volume of 3-months Euroyen futures was 114,555 contract which is 38 per cent lower month over month but is 8.3 per cent higher when compared yearly. Its average daily volume coming in at 5,207 contracts.
For FX Daily Futures contracts (Click 365), it recorded a 26 per cent increase in trading volume to 2,658,139 over the month and 22.4 per cent on yearly basis. The average daily trading volume was 115,571 contracts.
Equity Index Daily Futures contracts (Click kabu 365) increased 85 per cent to 823,194 contracts month on month, but 12.1 per cent lower year over year. The average daily trading volume was 35,815 contracts.