- FXSpotStream, the aggregator service of LiquidityMatch LLC, has reported a record-breaking currency trading volume.
- The average daily volume (ADV) for April was reported at $91.8 billion, marking a new all-time high.
- This figure surpasses the previous record set in March at $82.6 billion and represents a significant increase of 66 percent year-over-year.
FXSpotStream’s trading venue reports a record-breaking $92 billion in daily FX volume, indicating a robust start to the year for the financial markets.
Record-Breaking Trading Volume
FXSpotStream’s trading venue has reported an unprecedented surge in its currency trading volumes. Specifically, the average daily volume (ADV) for April was reported at a staggering $91.8 billion. This figure not only marks a new all-time high but also surpasses the previous record set in March at $82.6 billion. The ADV metric was higher by 11 percent on a monthly basis and increased 66 percent year-over-year when compared with $55.3 billion in April 2023.
Factors Driving the Increase
The average monthly volume across FXSpotStream’s streaming and matching products was comfortably above the $75 billion mark in the first quarter. The financial markets kicked off the new year in high gear, with a multitude of factors helping steer volumes across several venues. These include geopolitical conflicts causing knock-on effects globally, which pumped up FX hedging trades. The high volatility helps FX platforms shine when the market is anxious and trading activity is high, but low volatility then hurts when things settle down.
About FXSpotStream
FXSpotStream provides a multibank FX aggregation service for spot FX trading. The platform operates as a bank-owned consortium that provides the infrastructure to facilitate the route of trades from clients to liquidity providers. FXSpotStream’s offering is a client-to-bank platform, with each liquidity taker required to create individual credit relationships with participating banks. This differs from other multi-dealer platforms, such as FX ECNs like Hotspot and EBS Markets that operate with centralized order book systems for their participants.
Conclusion
In conclusion, FXSpotStream’s record-breaking trading volume indicates a robust start to the year for the financial markets. The increase in trading volume is driven by a multitude of factors, including geopolitical conflicts and high market volatility. As a leading multibank FX aggregation service for spot FX trading, FXSpotStream is well-positioned to continue facilitating high-volume trades in the future.
