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FXSpotStream, the bank-owned market utility for SpotFX, NDFs, and Swaps liquidity, has reported yet another month of record-breaking performance in June 2024. The company set new highs in Average Daily Volume (ADV) across multiple categories, marking the fourth record ADV set this year.
In June, FXSpotStream achieved a Total ADV of $94.841 billion, comprising a record-high Spot ADV of $68.760 billion and an ADV of $26.080 billion across all other products. This performance represents a 9.79% increase in Total ADV month-over-month and a substantial 50.58% increase year-over-year.
Spot ADV saw a 10.14% rise compared to May 2024 and a 39.37% increase from June 2023. Other product categories also experienced significant growth, with ADV increasing by 8.90% month-over-month and an impressive 91.13% year-over-year.
These figures build upon the strong performance seen in previous months. May 2024 had registered the second-highest ever ADV on the service, with an overall ADV of $86.381 billion. April 2024 was particularly notable, as FXSpotStream crossed the $2 trillion mark in overall volume supported for the first time in its history.
Year-over-year comparisons reveal substantial increases across all categories, with Other ADV showing particularly strong growth at 91.13% in June.
These results come in the wake of leadership changes at FXSpotStream. Jeff Ward, who took on the role of CEO at the beginning of 2024, succeeding founder Alan Schwartz, has overseen continued expansion of the company's offerings and partnerships. Recent additions to the platform include NatWest in October 2023 and Wells Fargo in March 2024 as Liquidity Providers, bringing the total number of bank LPs accessible through a single API to 16.
