FXSpotStream Sees 2.7% MoM Decline in November's ADV

Other institutional FX platforms also saw a similar trend last month.

FXSpotStream LLC, a provider of multibank FX aggregation services for spot FX trading, published its trading metrics for November, reporting $1.48 trillion in total monthly volumes. The figure has strengthened by 2 percent from the previous month and almost 31 percent year-over-year.

However, the average daily volume (ADV) handled by the platform dropped by 2.7 percent month-over-month, with the absolute figure at more than $67 billion. The figure improved year-over-year as it increased by 31 percent.

The ADV dropped month-over-month despite a higher monthly volume because November had 22 trading days compared to 21 in the previous month.

An Industry-Wide Trend

The monthly figures of FXSpotStream followed the same trend as Cboe FX, a prominent American institutional spot FX trading platform. That platform also witnessed a marginal increase in total monthly volume, but ADV dropped by nearly 2 percent. Deutsche Borse's 360T, on the other hand, did not follow this trend, as the total monthly volume and ADV on the platform both jumped month-over-month. However, demand on the European platform declined year-over-year.