Multibank FX aggregation service FXSpotStream has reported that August volumes on its system plummeted by 37% MoM to $12.4 billion (single count) daily. August volumes were also down 21% YoY from August 2015.
The $12.4 billion figure was the lowest year-to-date for FXSpotStream (see chart below). August Forex volumes are coming in weak across the board at all institutional eFX platforms, including at FXSpotStream rivals Hotspot FX, FastMatch and Gain Capital GTX.
FXSpotStream’s best-ever month was this past February, at $21 billion ADV.
FXSpotStream is a wholly owned subsidiary of LiquidityMatch LLC (which is ultimately a bank owned consortium), and provides the infrastructure that facilitates a multi-bank API and GUI to route trades from clients to Liquidity Providers. FXSpotStream provides liquidity from 12 leading global banks – BofA Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, Standard Chartered and UBS.