Cboe Recovers from Summer Lull, September FX Volume Jumps 18.5%

Cboe FX Markets has published trading statistics for September, reporting a healthy surge of 18.5 percent in spot trading volumes. In absolute terms, the total trading volume for the month came in at $754 billion, which is the highest since March 2021.

Additionally, the average daily volume (ADV) on the institutional platform jumped to $34.3 billion last month from $28.9 billion in August. That was a month-over-month increase of 18.6 percent. While the platform handled the highest daily volume of $50.9 billion on the last day of the month, the lowest was recorded on September 6 at only $16.2 billion.

Last month’s jump was expected after a dull August, given the cyclical nature of activities in the trading industry.

On a yearly basis too, the trading activities took a major leap. In September 2020, Cboe reported total spot FX volumes to be $702 billion, meaning there was a year-over-year trading volume increase of 7.4 percent.

Despite the solid rise in demand, last month’s numbers remain much lower than $880 billion in trade handles in March 2021.

Quarterly Demand

Coming to the quarterly figures, the volume in the quarter between July and September remained lower than both the two consecutive previous quarters, mostly due to dips in the two summer months, July and August.

The total volume of trading in the latest quarter came in at $2.1 trillion, while the ADV stood at $31.96 billion. However, the Q3 figures surged when compared to $30.2 billion in ADV handled in the same quarter of the previous year.

Cboe is one of the top derivatives exchanges in the United States. Though it was the first exchange in the country to list Bitcoin futures, it delisted the instrument after several months. But now, it is considering bringing back crypto products again.

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