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FXSpotStream Volume Drops By 39% On MoM Basis

FXSpotStream has reported a significant decrease in trading volume during the month of April 2023. This comes as a surprise as the trading venue just had three consecutive months of volume increase. According to the recently released operational metric for April 2023, the monthly volume was recorded at $1.1 trillion.

FXSpotStream is a consortium that provides the infrastructure to facilitate the multibank API and GUI for sending orders. In this way, it connects the clients to liquidity providers in an efficient way by aggregating the forex liquidity. Currently, 15 Tier 1 Liquidity providers are serving the clients through FXSpotStream.

FXSpotStream ADV Drops To 15-Month Low

According to the details, the average daily trading volume (ADV) at the trading venue also fell drastically in April 2023. The ADV remained at $55.3 billion after a 17% decline on an MoM basis. On a YoY basis, this was a 9.7% decrease. The average daily trading volume in April 2022 was recorded at $61.2 billion.


Considering the overall volume, the figure got reduced to 2/3 in April 2023. The total monthly volume during March 2023 was $1.53 trillion, which fell to only $1.1 trillion in the following month. In the first 3 months of the year, FXSpotStream reported a consistent volume increase.

FXSpotStream Streaming & Matching Volume Remained Strong

As per the recently released operational metrics, the streaming and matching products’ average monthly volume at FXSpotStream once again remained above $1.3 trillion for Q1. The increased forex interest due to the ongoing Ukraine war was one of the biggest catalysts behind this increase.

It is also worth mentioning that the FXSpotStream was not the only trading venue that reported a volume decrease in April. The spot FX volume at Cboe also fell sharply in April as the venue reported a 28% decrease on an MoM basis. The volume dropped from $1.11 trillion in March 2023 to $793 billion in April 2023.