FXSpotStream Posts 5.8% Monthly ADV Decline in October

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FXSpotStream Posts 5.8% Monthly ADV Decline in October

<p>FXSpotStream LLC, a provider of multibank FX aggregation services for spot FX trading, reported October's total monthly trading volume to be more than $1.45 trillion. The monthly average daily volume (ADV) came in at over $69.1 billion.</p><p>The ADV declined by 5.8 percent compared to the <a href="https://www.financemagnates.com/institutional-forex/fxspotstreams-september-adv-climbs-205-as-total-volume-hits-16t/" target="_blank">previous month's $73.3 billion</a>. However, the figure strengthened by 37 percent when compared year-over-year.</p><p>There were 21 trading days last month compared to 22 in September.</p><p><a href="https://www.financemagnates.com/tag/fxspotstream/" target="_blank">FXSpotStream</a> is a bank-owned consortium established in 2011. Along with its services in the institutional spot <a href="https://www.financemagnates.com/terms/f/forex/" target="_blank" id="6faa6714-7f7b-4d23-b1c5-c0d40807d613_1" class="terms__main-term">forex</a> market, the platform has extended services in the derivatives market. In addition, it launched the much-anticipated support for FX Algos and Allocations over its API, thus expanding its services.</p><p>Despite the month-over-month decline in trading demand, October remained one of the best months in its operational history. The reported monthly figures only remained behind September and March, which was a record month for the platform, with $70.1 billion in ADV.</p><p>Also, though there were monthly fluctuations in trading volume, the figures around 2022 significantly strengthened year-over-year, mostly in double digits. </p><p>An Industry-Wide Trend</p><p>FXSpotStream is not the only platform to report a monthly slump and strong yearly figures for October. It was an <a href="https://www.financemagnates.com/institutional-forex/institutional-spot-fx-volumes-declined-mom-in-september/" target="_blank">industry-wide trend </a>for the month, as other significant platforms had reported a similar pattern in their figures.</p><p>Cboe FX reported an ADV of $42.6 billion for October, while Deutsche Bourse's 360T posted $23.7 billion. The figures on the platforms declined 7 percent and 13 percent, respectively, month-over-month. However, they came in stronger by 25 percent and 7.2 percent, respectively, year-over-year.</p>

This article was written by Arnab Shome at www.financemagnates.com.

Source: FXSpotStream Posts 5.8% Monthly ADV Decline in October