The trading volume of the world's major institutional platforms in April 2023 has been announced, showing an overall downward 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 their average daily currency trading volume decrease in April 2023 compared to the previous month. Overall, Cboe saw the largest monthly decline at 17.9 percent, followed by FxSpotStream and CLS at 17.2 percent and 16.8 percent, respectively. Monthly declines were 16.1% for 360T, 13.2% for Euronext FX and 7.7% for Refinitiv.

Detailed trading volumes for each venue are as follows:

Cboe FX

Total trading volume on Cboe FX for the month was $793,218 million, compared to $1,112,090 million in March 2023. Average daily volume (ADV) in April 2023 reached $39.661 billion, down 17.97% compared to $48.352 billion the previous month.

CLS

In April 2023, the average daily volume of CLS was $1.93 trillion, an increase of 4% compared to April 2022. During the same period, currency forward trading volume increased 30.4 percent and swaps trading volume increased 6.8 percent, while spot trading volume decreased 9.9 percent to $429 billion.

Euronext

Euronext currency pair market turnover was 393,853 million US dollars, down 24.4% compared to 521,214 million US dollars in the previous month and 23.9% compared to 517,792 million US dollars in the same period last year.

Euronext FX's average daily trading volume for the month was $19.693 billion, down 13.1% from $22.661 billion in the previous month and down 20.1% from $24.633 billion in the same period last year.

FxSpotStream

In April 2023, FXSpotStream's total trading volume was $1.106 trillion, compared to $1.536 trillion in March. Average daily volume (ADV) in April 2023 was $55.3 billion, down 17.2% sequentially and down 9.7% compared to the same period last year.

Refinitiv

Average daily volume (ADV) on the company's major currency pair trading platforms for the month was $459 billion. Refinitiv spot currency pair trading volume reached $96 billion in the month, down 7.7% month-on-month from $104 billion in the previous month and down 5.9% year-over-year from $102 billion in the same month.

360T

In April 2013, 360T's average daily trading volume was $23.4 billion, a decrease of 16.1% sequentially compared to $27.9 billion in March 2023.