Category Archives: FX Survey

EuroMoney 2018 FX Survey…Go XTX!

EuroMoney 2018 FX survey results released this week show JPMorgan are for the first time #1 in FX, but the real story is the absolutely astonishing performance from XTX Markets, now ranked #3 in global FX. XTX Markets are the … Continue reading

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Major platforms see increases in Feb volumes

All the major FX platforms have now reported their Feb 18 vols, with SpotStream leading the way up 10% to a new all time record of $28.8bn/day, whilst HotSpot also recorded a new all time record of $44.2bn/day. Reuters Spot … Continue reading

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Major platforms deliver strong Jan volumes

All the major FX platforms I track reported strong Jan 18 vols, lead by EBS up a whopping 58% to $93.2bn/day (up from $65.5bn/day in Dec). Both Hotspot (now owned by CBOE) and SpotStream hitting new all time high volumes. … Continue reading

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Results of Oct 17 Semi Annual FX Surveys

Latest semi-annual FX survey data from top central banks (FX Joint Standing Committees) show that in Oct 17 FX average daily vols (ADVs) for the top six FX centres was $4.28tn/day, an drop of –6.2% from Apr 17, although up +3.4% year … Continue reading

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GFXC to change Principal 17 (Trading in last-look window) after market feedback

In last week’s post, we looked at the feedback received from the market by the Global Foreign Exchange Committee (GFXC) to Principal 17 of the FX Global Code of Conduct, which discusses ‘trading in the last-look window’. In light of … Continue reading

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Major FX platforms report weak Oct volumes

All the major FX platforms I track reported weak Oct volumes, with EBS leading the way down -17% drop in ADV to $80.6bn/day ($97.4bn/day in Sept). The drops come after strong Sept figures, but still leaves most platforms with small … Continue reading

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RIP….Last-look? Depends who you ask

Back in 2015, just before the publication of the Fair and Effective Markets Review (FEMR) report, that led to the FX Global Code of Conduct, I wrote that it was time to Say goodbye to last look. A few months … Continue reading

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Major FX platforms report strong Sept volumes

The major FX OTC platforms have now all reported their Sept volumes. After a slow summer, all the major platforms have reported strong rises in Sept, as shown in the table below. FastMatch lead the way with an impressive 28% … Continue reading

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Global FX vols up driven by UK

Latest semi-annual FX survey data from top central banks (FX Joint Standing Committees) show that in Apr 17 FX average daily vols (ADVs) for the top six FX centres was $4.56tn/day, an increase of +5.5% from Oct 16 and +7.5% … Continue reading

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EuroMoney 2017 FX ranking some interesting trends

The latest 2017 EuroMoney FX survey ranking has been published. The market has moved on from ‘flow monsters’ seeking market share at all costs. Today with balance sheet constraints, reduced risk appetite and tougher leverage ratios, quality and profitability of … Continue reading

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FX Global Code of Conduct

It’s finally been released, the 76 page FX Global Code of Conduct, developed by the Bank of International Settlements (BIS), in conjunction market participants and working groups, to provide a common set of guidelines to promote the integrity and effective functioning … Continue reading

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Regional banks upping their game in FX

Since almost forever, the global top tier banks have dominated the FX markets. One only needs to review the EuroMoney FX bank rankings to see the global elite ‘flow monster’ top ten are pretty much the same group today as … Continue reading

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Top tier FX Platforms Mar 16: Reported weak results, EBS volumes sharply lower -18.4%

In terms of Spot FX, all the major platforms delivered lower results in Mar  16. EBS -18.4% to $83.7bn/day ($102.6bn/day in Feb 16), down -26.9% compared to Mar 15 level of $114.5bn/day Reuters spot -6.3% to $104bn/day ($111bn/day in Feb 16), down -21.2% compared to Mar 15 of $132bn/day The … Continue reading

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Deloitte 2016 Global FX survey

An interesting FX survey from Deloitte provides insight into the challenges corporations encounter when managing currency risk and possible causes (and solutions) for these challenges, as well as FX risk management structures, strategies, and processes adopted by companies across the globe. … Continue reading

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