FXSpotStream Sees 2.7% MoM Decline in November's ADV

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FXSpotStream Sees 2.7% MoM Decline in November's ADV

<p>FXSpotStream LLC, a provider of multibank FX aggregation services for spot FX trading, published its trading metrics for November, reporting $1.48 trillion in total monthly volumes. The figure has strengthened by 2 percent from the previous month and almost 31 percent year-over-year.</p><p>However, the average daily volume (ADV) handled by the platform dropped by 2.7 percent <a href="https://www.financemagnates.com/institutional-forex/fxspotstream-posts-58-monthly-adv-decline-in-october/" target="_blank" rel="follow">month-over-month</a>, with the absolute figure at more than $67 billion. The figure improved year-over-year as it increased by 31 percent.</p><p>The ADV dropped month-over-month despite a higher monthly volume because November had 22 trading days compared to 21 in the previous month.</p><p>An Industry-Wide Trend</p><p>The monthly figures of <a href="https://www.financemagnates.com/tag/fxspotstream/" target="_blank" rel="follow">FXSpotStream</a> followed the same trend as <a href="https://www.financemagnates.com/institutional-forex/novembers-total-institutional-fx-spot-trading-volume-jumped-mom/" target="_blank" rel="follow">Cboe FX</a>, a prominent American institutional spot FX <a href="https://www.financemagnates.com/terms/t/trading-platform/" target="_blank" id="f85800b2-ccf5-4f50-9e8e-780d32afc6f6_1" class="terms__main-term">trading platform</a>. That platform also witnessed a marginal increase in total monthly volume, but ADV dropped by nearly 2 percent. Deutsche Borse's 360T, on the other hand, did not follow this trend, as the total monthly volume and ADV on the platform both jumped month-over-month. However, demand on the European platform declined year-over-year.</p><p>FXSpotStream 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__secondary-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>Its total monthly volume in November came in to be third best in the company's operational history, only behind last September and March. Its total volume peaked in March at $1.61 trillion. And, November was the 11th consecutive month the platform reported a figure above a trillion dollars.</p>

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

Source: FXSpotStream Sees 2.7% MoM Decline in November's ADV