Cboe’s FX Volume Strongly Rebounds In September

Cboe’s FX volume strongly rebounds in September. For September 2020, Cboe FX Markets published its trading volumes on the platform, showing a promising increase in the demand of spot traders.

Last month, the exchange recorded a total foreign exchange (forex) trading volume of $702 billion compared to the previous month’s $602 billion, meaning there was a month-on-month jump of 16.6 percent.

In March, Cboe spot FX volumes reached a record high with the Coronavirus-induced market volatility going above $1.2 trillion. In the following month, however, the numbers nearly halved. In May and June, amid a healthy recovery, trading volumes fell dramatically in the next couple of months.

The September figures for Cboe are substantially robust, becoming the second highest in the last six months, but it is still $761 billion behind June’s figures.

When compared year-on-year, trading in September 2020 is on good form again as last year the exchange recorded only $637 billion for the same month. The average daily volume on the spot FX exchange remained at $31.9 billion for last month which had 22 trading days.

Cboe published the quarterly trading volume figures as well, apart from the monthly numbers. The exchange managed $1.99 trillion in trading volume in the third quarter of 2020, which is from July to September, but it was a 3.3 percent decrease from the previous quarter. The exchange saw $2.06 trillion in overall spot market value in Q2 2020.

However, the latest quarterly numbers are similar on a year-on-year basis with a marginal drop.

[image: Wikipedia]

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