After a sustained period of high trading activity through the last four months, Cboe’s institutional spot FX platform witnessed a slowdown in December 2017. Average daily volume (ADV) declined by 8.2 percent on a month-over-month basis, amounting to $31.17 billion in the month ago, compared to $34 billion in November 2017.
On a year-over-year basis, the figure was higher by 29.2 percent when weighed against $24.1 billion in December 2016.
Looking at its total volumes, Cboe FX inked a figure of $623.4 billion for December 2017, shedding 16.6 percent month-over-month from $747.4 billion the previous month. However, these figures showed again a healthy uptick on a year-over-year basis, with December’s turnover rising 16.2 percent from $536.4 billion in December 2016.
As its parent company rebranded to Cboe Global Markets, now pronounced ‘See-bo’ instead of ‘C-B-O-E’, following its acquisition of Bats Global Markets, the exchange’s institutional FX trading venue Hotspot has become Cboe FX.
Despite slow trading activity in December, the last three months of 2017 helped Cboe FX average a record $32.4 billion in Q4 2017, a growth of 11.7 percent from $29.0 billion in the third quarter, coupled with a 21.4 percent increase year-over-year.
According to recent data, EUR/USD contracts are responsible for around a quarter of Cboe FX’s turnover last month.
(Photo: Jiefei Liu/MEDILL)