CME Group revealed on Friday that total spot foreign exchange volumes traded on Electronic Brokerage Services (EBS) reached $52.9 billion in April 2023. EBS is the US derivatives exchange operator’s wholesale electronic trading platform for trading foreign exchange with market-making banks.
finance poles Trading activity in spot forex among institutional investors reportedly weakened last month across regions, as data from Chicago-based Cboe FX, Deutsche Börse’s 360T, New Jersey-based FXSpotStream and Japan’s Click 365 show. Russia was also not excluded as spot forex trading on the Moscow Stock Exchange, the largest stock exchange group in Russia, fell by 10% month-on-month (MoM) to 7.6 trillion Russian rubles ($96 billion), and the decline came after the main trading sites recorded production Stronger earlier in March.
FX Link’s average daily volume (ADV), CME’s spot forex spread, also grew by 32% in April 2023 compared to the same period last year. However, the derivatives exchange operator did not disclose the value of the volume. In March, FX Link ADV jumped 34% year over year.
“Overall, April volatility in the G3 and CNH pairs were all at or near a 12-month low during April, which not only affects overall market volumes but could have a growing impact on centralized interbank platforms and central limit order.” wrote Jeff Ward, global president of EBS at CME.
According to Ward, in April the Chicago Mercantile Exchange saw continued adoption of EBS Direct Forwards, its platform for optimal execution and management of foreign currency forward risk. Over the past month, average daily volume on the platform has increased by 61% year-on-year.
finance poles I reported earlier that Journey to Futures pushed CME Group revenue to $1.4 billion during the first quarter of 2023, the second-highest quarterly revenue. The jump came as global market participants sought to manage risk across asset classes over the period, according to Terry Duffy, Chairman and CEO of CME Group.
In its latest report, the Chicago Mercantile Exchange indicated that trading in forex futures and options in April grew by 5% compared to the same period in 2022. It also indicated that the year-to-date open interest on forex futures contracts also increased by 5% compared to the same period. . in 2022.
CME sees the second highest ADV on record for the month of April
Meanwhile, at the end of April, CME Group posted an ADV of 19.8 million contracts, the second highest April ADV ever. Growth built on strong ADV increases in options, commodities and cryptocurrencies.
Earlier, the Chicago Mercantile Exchange group saw the second highest ADV offer for the month of March with average daily volume growing by 24% to 30.3 million contracts. In addition, the exchange’s first quarter of 2023 rose 4% to 26.9 million contracts, marking the second-highest quarterly volume ever.
Monthly and quarterly growth was driven by increases in ADV across most of CME Group’s products and offerings including interest rate, options, equity index and digital asset derivatives.
CME Group revealed on Friday that total spot foreign exchange volumes traded on Electronic Brokerage Services (EBS) reached $52.9 billion in April 2023. EBS is the US derivatives exchange operator’s wholesale electronic trading platform for trading foreign exchange with market-making banks.
finance poles Trading activity in spot forex among institutional investors reportedly weakened last month across regions, as data from Chicago-based Cboe FX, Deutsche Börse’s 360T, New Jersey-based FXSpotStream and Japan’s Click 365 show. Russia was also not excluded as spot forex trading on the Moscow Stock Exchange, the largest stock exchange group in Russia, fell by 10% month-on-month (MoM) to 7.6 trillion Russian rubles ($96 billion), and the decline came after the main trading sites recorded production Stronger earlier in March.
FX Link’s average daily volume (ADV), CME’s spot forex spread, also grew by 32% in April 2023 compared to the same period last year. However, the derivatives exchange operator did not disclose the value of the volume. In March, FX Link ADV jumped 34% year over year.
“Overall, April volatility in the G3 and CNH pairs were all at or near a 12-month low during April, which not only affects overall market volumes but could have a growing impact on centralized interbank platforms and central limit order.” wrote Jeff Ward, global president of EBS at CME.
According to Ward, in April the Chicago Mercantile Exchange saw continued adoption of EBS Direct Forwards, its platform for optimal execution and management of foreign currency forward risk. Over the past month, average daily volume on the platform has increased by 61% year-on-year.
finance poles I reported earlier that Journey to Futures pushed CME Group revenue to $1.4 billion during the first quarter of 2023, the second-highest quarterly revenue. The jump came as global market participants sought to manage risk across asset classes over the period, according to Terry Duffy, Chairman and CEO of CME Group.
In its latest report, the Chicago Mercantile Exchange noted that trading in forex futures and options in April grew by 5% compared to the same period in 2022. It also noted that the year-to-date open interest on forex futures also increased by 5% compared to the same period. in 2022.
CME sees the second highest ADV on record for the month of April
Meanwhile, at the end of April, CME Group posted an ADV of 19.8 million contracts, the second highest April ADV ever. Growth built on strong ADV increases in options, commodities and cryptocurrencies.
Earlier, the Chicago Mercantile Exchange group saw the second highest ADV offer for the month of March with average daily volume growing by 24% to 30.3 million contracts. In addition, the exchange’s first quarter of 2023 rose 4% to 26.9 million contracts, marking the second-highest quarterly volume ever.
Monthly and quarterly growth was driven by increases in ADV across most of CME Group’s products and offerings including interest rate, options, equity index and digital asset derivatives.
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