The upward trend pauses, figures lower by 28% over last year
FX contracts volumes traded on the CME Group have dipped lower by 7% in the month of February to 769,000 contracts daily. That marks a break in a rising trend that we have observed since October of last year. The average daily notional value of executed trades with FX contracts was $92 billion. Apparently competition from other major ECNs in the industry is taking its toll on CME Group’s numbers.
Not a big surprise considering their figures for the past couple of months, recently developing ECN volumes trends are fully justifying the company’s effort to launch its new educational platform but with the recent launch of the company’s new educational website FuturesFundamentals.com. We are still expecting figures from close competitors to assess whether this has something to do with general trading appetite or volumes have been shifted to other major ECNs.
Stay tuned to LeapRate as we continue covering February’s trading volumes across the industry.