Beginning our peek into July 2017 trading volumes at leading eFX trading platforms, data from institutional Forex ECN Hotspot FX indicates that July trading volumes decreased slightly by about 3% MoM from June, clocking in at $27.1 billion average daily volume for the month.
Similar in pattern to June, activity did seem to be stronger in the second half of the month at Hotspot FX, as the Euro, British Pound and Canadian Dollar (among other currencies) went on a run against what has been a very weak US Dollar. Volumes averaged $29.1 billion in the second half of the month.
Overall, Hotspot’s volumes have been very steady so far in 2017, in the $27-$29 billion average daily volume range.
July 2017 marks the fifth 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 wasted no time in rebranding its Forex ECN unit as: Hotspot – a CBOE company.