FX Platforms – Feb 15 vol: Reuters spot vol down 15%


The major FX platforms have now reported Feb 15 volumes. Following the very strong Jan figures, volumes for February are down across the board, with EBS showing the biggest drop, down -27.4%, with Reuters  reporting a smaller -15.6% fall.

Looking in more detail we see the individual platform figures as follows:

Reuters Spot: $114bn/day in Feb, down -15.6% on Jan, and down -9.4% to Feb 14 level of $126bn/day.

Reuters Other Products: $241bn/day in Feb, down -8.4%  on Jan, although still up +4.2% compared to Feb 14 level of $231bn/day.

Reuters total: $355bn/day in Feb, down -10.8% on Jan, and virtually unchanged at -0.6% compared to Feb 14 level of $357bn/day.

EBS $94.1bn/day in Feb, down a whopping -27.4% on Jan, although still +12.7% compared to Feb 14 level of $83.5bn/day.

Hotspot: $26.3bn/day in Feb, down -23.2% on Jan, and down -13.5% compared to Feb 14 level of $30.4bn/day, also Hotspot FX has now been sold to BATS Global Trading.

Platform results Feb 15

Reuters, EBS &amp -chart1 Feb 15

 Reuters, EBS and Hotspot FX volumes Jan 2015

As can be seen from chart below, Reuters continues to claw back volumes compared to EBS in Feb.

Reuters minus EBS - Feb 15

 Reuters-EBS volume differences Feb 15-Jan 15

At the same time, volumes at Fastmatch the ECN which is 35% owned by FXCM fell of a cliff in Feb, down -87.2% to just $1.1bn/day down from $8.6bn/day in January, as they continues to suffer from the fallout of the FXCM hit on EURCHF move, with FXCM stating they will sell their stake in Fastmatch.

Fastmatch: $1.1bn/day in Feb,  -87.4% on Jan, and down -69.3% compared to Feb 14 level of $3.6bn/day.

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