Cboe Reports Worst Spot FX ADV in Almost 2 Years in April

Following a strong performance in March of this year, Cboe has released its foreign exchange (forex) spot trading volumes for the month of April, revealing the lowest monthly average daily volume (ADV) since August of 2017.

For the month of April, spot FX trading volumes on the United States options exchange was $693.2 billion. When measured against the previous month, which had a trading volume of $809.5 billion, this is lower by 14.4 percent.

However, it is important to take into consideration that March did have an exceptionally strong month in terms of trading volume, as it achieved the highest volume since October of last year.

On an annual comparison, April’s trading volume of $693.2 billion is still lower than the trading volume noted in April of 2018, which was $763 billion, by 9.1 percent.

April’s trading volume is higher than that of February. However, this isn’t saying too much as February reported the lowest trading volume so far this year, coming in at $690.4 billion.

April Achieves Worst ADV for Cboe Since August 2017

For April, the ADV was $31.5 billion. While this might seem like a solid figure, it is actually the lowest monthly ADV since August of 2017. Compared to the previous month, April’s ADV is lower by 18.3 percent.

When comparing this against the same time period of last year, which recorded an ADV of $36.3 billion, it represents a fall of 13.3 percent.

Even though April’s total trading volume was higher than what was reported in February of this year, April’s ADV was still lower. Specifically, February of 2019 had an ADV of $34.5 billion. As a percentage, this is higher by 8.7 percent.

During the month of April, the day which had the highest trading volume was April 24th, which raked in a spot trading volume of $44.3 billion. The lowest daily trading volume for the month occurred only five days earlier on the 19th of April, at $3.3 billion.

(Photo: Jiefei Liu/MEDILL)

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