Closing out a fairly active 2024 for institutional FX trading, December saw a 12.8% month-over-month decline in average trading volumes at leading eFX venues surveyed by FNG – which is not unusual given that much of late December is (almost) always quiet in the financial markets.
Each of FXSpotStream, Cboe FX, 360T, and EuronextFX posted trading volume declines of between 8% and 18% in December 2024, as a near-record November – buoyed by post-US election currency volatility – gave way to a holiday season slowdown in the last month of 2024.
Cboe FX (formerly HotspotFX)
- December 2024 average daily volumes were $40.98 billion, -14.1% from November’s $47.71 billion.
EuronextFX (formerly FastMatch)
- December 2024 ADV $24.03 billion, -17.7% from November’s ADV of $29.21 billion.
FXSpotStream
- In December, FXSpotStream registered an overall ADV of USD92.063billion. While this marked a 8.23% decrease MoM (compared to November 2024), it also represented a 42.06% increase YoY (vs. December 2023). Our overall ADV consisted of a Spot ADV of USD62.225billion and USD29.838 billion across other products.
- FXSpotStream’s Total ADV MoM (Dec’24 vs Nov’24) decreased 8.23%.
- FXSpotStream’s Total ADV YoY (Dec’24 vs Dec’23) increased 42.06%.
- FXSpotStream’s Spot ADV MoM (Dec’24 vs Nov’24) decreased 13.91%.
- FXSpotStream’s Spot ADV YoY (Dec’24 vs Dec’23) increased 26.44%.
- FXSpotStream’s Other ADV MoM (Dec’24 vs Nov’24) increased 6.42%.
- FXSpotStream’s Other ADV YoY (Dec’24 vs Dec’23) increased 91.32%.
In 2024 as a whole, FXSpotStream’s overall ADV of USD89.857billion marked a 42.16% increase YoY when compared to 2023. While Spot ADV over the Service grew 29.44% in 2024 (when compared to 2023), other products combined for an ADV increase of 90.17% YoY.
360T
- Average daily volumes (ADV) at 360T came in at $28.14 billion in December 2024, down 11.0% from November’s $31.62 billion.
