Institutional FX Trading Trends: February 2024 Insights

Explore February 2024’s institutional FX trends: declines in trading volumes with nuanced shifts across leading platforms.

Home » Institutional FX Trading Trends: February 2024 Insights

In February 2024, institutional FX trading experienced a subdued deceleration, reflecting a measured slowdown in market activities during that period, contrasting the vigorous January performance and indicating shifting market trends. According to data from FNG, average daily trading volumes at leading institutional eFX venues decreased by just over 3% during the month. Prominent platforms such as FXSpotStream, Cboe FX, 360T, and EuronextFX reported activity declines ranging from 1.8% to 5.3%.

The average daily volumes (ADV) for February 2024 were $42.626 billion, marking a 2.3% decline from January’s figure of $43.629 billion. FXSpotStream reported a Total ADV of USD 72.327 billion, with Spot ADV amounting to USD 51.828 billion and Other ADV totaling USD 20.499 billion. Notably, FXSpotStream’s Total ADV decreased by 1.79% month-on-month (MoM) but showed a significant year-on-year (YoY) increase of 15.07%.

Institutional FX Trading: February 2024 Insights

In the case of FXSpotStream, the Spot ADV MoM declined by 5.31%, while the YoY comparison revealed a positive growth of 3.43%. Additionally, the Other ADV MoM increased by 8.41%, with an impressive YoY surge of 60.82%, indicating notable performance in this category.

Turning to 360T, the platform recorded an ADV of $27.614 billion in February 2024, marking a 4.0% decrease from January’s ADV of $28.758 billion. These figures reflect the nuanced trends in institutional FX trading during February, contributing to a slight contraction in activity compared to the preceding month.

The data points highlight the intricacies of the market, showcasing fluctuations in specific categories such as Spot and Other ADV, offering a comprehensive view of the dynamics at play. Despite the MoM decline in certain areas, the robust YoY growth for FXSpotStream suggests a resilient and expanding market over the past year. The 360T platform’s modest decline in ADV indicates a measured adjustment, reinforcing the notion of a balanced and adaptive institutional FX trading landscape in February 2024.

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