<p class=”MsoNormal”>FXSpotStream,
the provider of multibank FX aggregation services, has announced its trading
metrics for March 2023. The company recorded a total monthly volume of $1.54
trillion, which is up 6.2% from the previous month’s total volume of $1.26 trillion. </p><p>FxSpotStream Reports
Higher MoM Volumes in March 2023</p><p class=”MsoNormal”>FXSpotStream’s
ADV for March 2023 was $66.8 billion, representing a 6.2% month-over-month
(MoM) increase from the previous month’s <a href=”https://www.financemagnates.com/institutional-forex/fxspotstream-rebounds-from-december-dip-generates-13t-in-january/” target=”_blank” rel=”follow”>ADV of $62.9 billion</a>. Despite the MoM
increase, the ADV <a href=”https://www.financemagnates.com/institutional-forex/fxspotstream-posts-adv-of-701-billion-in-march-2022/” target=”_blank” rel=”follow”>decreased by 4.8% year-over-year</a> (YoY), standing at $66.8
billion for March 2023 compared to $70.2 billion in March 2022.</p><p class=”MsoNormal”>Analyzing
volumes since the beginning of the year, we can see increasing market activity
and a steady increase in value. This is a significant rebound in ADV <a href=”https://www.financemagnates.com/institutional-forex/fxspostream-sees-144-mom-decline-in-decembers-adv/” target=”_blank” rel=”follow”>from the low in December 2022</a>, when the results reached $57.6 billion. It was already $61 billion in January and almost $63 billion in February, as mentioned
above.</p><p class=”MsoNormal”>FXSpotStream’s
March 2023 trading volumes were spread over 23 trading days, compared to 20
trading days in February 2023 and 22 trading days in January 2023.</p><p class=”MsoNormal”>The
aggregation service continues to serve a broad range of clients, including
streaming <a href=”https://www.financemagnates.com/terms/l/liquidity-providers/” class=”terms__main-term” id=”fd90fbbf-614f-4d02-b500-72b78ab4dc6e”>liquidity providers</a> such as Barclays, BofA Merrill Lynch, Societe
Generale, Citi, and Commerzbank. The company’s multibank FX aggregation
services provide its clients with a reliable, high-speed, and transparent
platform for trading spot FX.</p><p class=”MsoNormal”>Finance
Magnates reported
that Alan F. Schwarz, who co-founded FXSpotStream in August 2011, <a href=”https://www.financemagnates.com/executives/fxspotstream-co-founder-alan-schwarz-to-say-goodbye-after-over-11-years/” target=”_blank” rel=”follow”>ended his
11-year-plus journey with the company</a> in February.</p><p>FxSpotStream Compared to
Other Venues</p><p class=”MsoNormal”>The
increase in total volume for last month is driven by the uptick in market
activity across the industry, with other institutional venues reporting similar
increases. </p><p class=”MsoNormal”>Cboe FX,
for instance, <a href=”https://www.financemagnates.com/institutional-forex/cboe-fx-ends-march-as-second-best-month-trading-volume-hits-11t/” target=”_blank” rel=”follow”>reported a 17.9% increase in total volume in March 2023</a> compared
to the same period last year. The reported figure for March comes in second
only to Cboe’s record of $1.2 trillion for March 2020, when market
activity surged due to the Covid-induced <a href=”https://www.financemagnates.com/terms/v/volatility/” class=”terms__secondary-term” id=”7fd330d9-8855-4c31-9770-cb52b328c117″>volatility</a>.</p><p class=”MsoNormal”>However,
for units outside of America, the results turned out to be more mixed, as was
the case with FxSpotStream. In Japan, Click 365, which offers FX futures and is
owned by Tokyo Financial Exchange, reported a 41.1% MoM increase in demand for
March as more than 3.3 million contracts were exchanged. However, the demand
for FX futures on the platform decreased by 3.1% YoY.</p><p class=”MsoNormal”>360T, a
prominent spot FX venue in Europe owned by the Deutsche Borsa Group, recorded a
total monthly trading volume of over $563 million for March, which is up from $530.9
billion in February. However, the demand was significantly lower YoY, as the
platform handled over $655 billion in trading volume in March 2022.</p>
This article was written by Damian Chmiel at www.financemagnates.com.
