Trading volumes for January 2023 on major global institutional platforms have been announced. The results show that the trading volume shows an overall upward trend. How have institutional investors and traders fared in the OTC market this month? Let's look at the numbers.

The report covers the currency average daily volume (ADV) of 5 major institutional trading venues, namely Cboe FX, CLS, Euronext FX, FxSpotStream, 360T, as shown in the chart below.

All five companies saw their average daily currency trading volume increase in January 2023 compared to December. Overall, Cboe FX saw the largest monthly increase at 16.7 percent, followed by CLS and 360T at 13.7 percent and 13.6 percent, respectively. Euronext FX and FxSpotStream posted monthly increases of 9.5% and 5.2%, respectively.

Detailed trading volumes for each venue are below.

Cboe FX

The total trading volume of Cboe FX in January 2023 was $901.86 billion, up 16.7% compared with $773.075 billion in December 2022, and up 17.5% compared with $767.777 billion in January 2022.

Average daily volume (ADV) for the month was $40.994 billion, up 16.7% sequentially compared to $35.14 billion in the previous month and up 12.1% sequentially compared to $36.561 billion in the same month last year. There were 22 trading days in the month, unchanged from the previous month.

CLS

According to the data report, the company's ADTV reached $1.913 trillion in the month, an increase of 1.9% compared to $1.878 trillion in January 2022, and an increase of 12.3% compared to 1.704 trillion in December 2022.

Spot ADTV for currency pairs was $465 billion, up 2.2% year-over-year compared to $455 billion in January last year and up 13.7% sequentially compared to $409 billion in December 2022.

Euronext

Euronext currency pair market turnover totaled $432,221 million, up 9.5% from $394,561 million in the previous month and down 7.5% from $469,188 million in the same period last year.

The average daily turnover in the currency pair market for the month was $19.646 billion, up 9.5% from $17.935 billion in the previous month and down 12.1% from $22.342 billion in the same period last year.

FxSpotStream

In December 2022, FXSpotStream's total trading volume was $1,267.233 billion, down 14.4% month-on-month from $1,480.51 billion in the previous month, but up 28.4% year-over-year from $986.56 billion in December 2021.

The company's average daily volume (ADV) in December was $57.602 billion, down 14.4% sequentially from November's $67.275 billion, but up 34.3% year-over-year from $42.894 billion in the same period in 2021.

360T

In January 2023, 360T's average daily trading volume was $2.5 billion, an increase of 13.6% compared to $2.2 billion in December 2022.