Trading volumes for February 2023 on major global institutional platforms have been announced, showing an overall upward trend. The report covers the average daily volume (ADV) of institutional currency trading volumes across six major venues, namely Cboe FX, CLS, Euronext FX, FxSpotStream, Refinitiv, 360T, as shown in the chart below.

All six companies saw an increase in their daily currency trading volume in February 2023 compared to the previous month. Overall, the 360T saw the largest monthly increase at 6%, followed by Euronext FX and CLS at 5% and 4%, respectively. FxSpotStream, Cboe FX and Refinitiv posted monthly increases of 3.6%, 2.4% and 2%, respectively.

Detailed trading volumes for each venue are below.

Cboe FX

In February 2023, Cboe FX trading volume was $837.915 billion, down 7.1% from $901.86 billion in January 2023, and essentially unchanged from $840.221 billion in February 2022.

Average daily volume (ADV) for the month was $41.896 billion, compared to ADV of $40.994 billion in January and ADV of $42.011 billion for the same period in 2022.

CLS

In February 2023, the average daily volume of CLS was $1.99 trillion, an increase of 0.5% compared to February 2022. During the same period, currency forward trading volume increased by 27 percent, currency swap trading volume increased by 1 percent, while currency spot trading volume decreased by 6 percent to $484 billion.

Euronext

Euronext currency pair market turnover was US $412.193 billion, down 4.6% from US $432.221 billion in the previous month and 17.6% from US $500.193 billion in the same period last year.

The average daily turnover in the currency pair market for the month was $20.61 billion, an increase of 4.9% compared to $19.646 billion in the previous month and a decrease of 17.6% compared to $25.01 billion in the same period last year.

FxSpotStream

In February 2023, FXSpotStream's total trading volume was $1,257.133 million, down 5.7% from $1,332.535 million in January 2023. The total transaction volume in February 2022 was $1,262.691 billion.

The company's average daily volume (ADV) for the month was $62.857 billion, up 3.8% sequentially from $60.57 billion in the prior month and down slightly 0.4% from $63.135 billion in the same month last year.

Refinitiv

Financial data and technology company Refinitiv published a report showing that its average daily volume (ADV) for currency trading in February 2023 was $459 billion, a slight increase from $455 billion in January 2023, but a slight decrease from $470 billion in February 2022.

Among them, spot trading volume increased 2% month-on-month to $102 billion in February 2023, but decreased 1% year-over-year. Other transaction types also increased slightly month-on-month to $357 billion in February 2023, but were down 3% year-over-year.

360T

360T's average daily trading volume in February 2023 was $26.5 billion, an increase of 6% compared to $25 billion in January 2023.