Institutional Currency Trading Data Released in November

The trading volume of major global institutional platforms in November 2022 has been announced. The results showed that the transaction volume showed an overall downward trend. So, how have institutional investors and traders fared in the OTC markets this month? Let’s look at the concrete data.

The report covers currency average daily volume (ADV) across six major institutional trading venues, namely Cboe FX, CLS, EuronextFX, FxSpotStream, Refinitiv, Integral, as shown in the chart below.

The average daily trading volume of all six companies in November 2022 decreased compared with October. Overall, Integral posted the biggest monthly drop of 6.8%, followed by Refinitiv and CLS, both down 4%. Cboe FX, FxSpotStream, Euronext FX fell 1.9%, 3% and 1.4%, respectively.

The detailed trading volume of each institutional trading venue is as follows:

Cboe FX

The company’s total transaction volume in November was US$921.3 billion, which represents a month-on-month increase of 2.8% compared to October 2022’s US$896.5 billion. Compared with the $776.5 billion in the same period last year, the transaction volume increased by 18.6% this month.

Average daily volume (ADV) reached $41.9 billion in November, down 1.9 percent from $42.7 billion in the previous month. But November has 22 trading days, compared to 21 in October.

CLS

The average daily trading volume of CLS Group reached US$1.89 trillion in November, compared with US$1.812 trillion in the same period last year, an increase of 4% year-on-year, and US$1.928 trillion in October, a decrease of 1.86% month-on-month.

CLS Group provides currency forward, swap and spot services. In November, CLS Group’s currency forward transaction volume reached 0.145 trillion US dollars, a year-on-year increase of 47%. Currency spot trading volume reached $0.473 trillion, up 1% year-on-year. Currency swap volumes reached $1.274 trillion, up 2% year-over-year.

Euronext

The total transaction volume of the Euronext currency pair market reached 452.113 billion US dollars, a decrease of 15.1% from the previous month’s 532.8 billion US dollars, but a year-on-year increase of 11.4% from the 405.785 billion US dollars in the same period last year. The average daily trading volume of the currency pair market in the month was US$21.529 billion, a decrease of 11.1% from the US$24.218 billion in the previous month, but an increase of 11.4% from the US$19.323 billion in the same period last year.

FxSpotStream

Total transaction value reached $1.48 trillion, up from $1.45 trillion in the previous month. Compared with last November, the total transaction volume increased by 31%. Average daily volume (ADV) reached $67 billion, up 31% year-over-year but down 2.7% month-over-month.

Refinitiv

In November 2022, Refinitiv’s average daily trading volume was $96 billion, a decrease of 4% compared to October 2022.

Integral

The platform’s average daily volume (ADV) for the month was $42.6 billion, a 6.8% month-on-month decrease compared to October 2022 and a 15.8% year-on-year decrease compared to the same period in 2021.

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