Cboe FX (Hotspot) December trading volumes down 7% to $31.7 billion ADV

CBOE Hotspot FX volumes

Completing a fairly strong year which included a change-of-control and a new brand name, institutional Forex ECN Cboe FX Markets – formerly known as Hotspot FX – has reported data indicating a slight 7% MoM decline in December trading volumes, $31.7 billion ADV versus $33.9 billion daily in November.

Not bad, considering that November 2017 was Cboe FX / Hotspot’s best month of 2017 and most active month since the Swiss Franc spike driven month of January 2015, when volumes hit $34.3 billion ADV. Given that December is usually a seasonally slow month – and that excluding the last week of December Cboe FX volumes would have surpassed November’s – that’s a fairly good result.

Importantly, December’s results remained well above the $27-29 billion ADV volumes Cboe FX / Hotspot had been seeing throughout most of the the year to date, through to the end of the summer.

Cboe Hotspot FX volume Dec2017

Cboe Hotspot FX geo volume Dec2017By product, the most-traded pair at Cboe FX in November was, not unexpectedly, EURUSD at 23.4% of total trading. USDJPY at 14.6%, GBPUSD at 10.9%, USDCAD at 8.0%, and AUDUSD at 6.9% of total were next in line.

For the full year 2017, volumes at Cboe FX averaged $29.6 billion daily, versus $27.0 billion the previous year.

December 2017 marks the tenth month that Hotspot FX was operating under the corporate umbrella of its new owner, CBOE Holdings Inc. (NASDAQ:CBOE). CBOE acquired control of Hotspot FX via its $3.2 billion takeover of Bats Global Markets Inc at the end of February. CBOE initially rebranded its Forex ECN unit as: Hotspot – a CBOE company. And now, as noted above, it has been re-rebranded as Cboe FX Markets, with the ‘Hotspot’ brand being now phased out.

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Cboe FX (Hotspot) December trading volumes down 7% to $31.7 billion ADV


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