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FXSpotStream, the bank-owned multibank FX streaming aggregation service for SpotFX, NDFs, and Swaps, has continued to show strong performance throughout 2024, reporting in August a fifth record-breaking month in 2024. Average Daily Volumes hit a new high of $96.796 billion (Spot ADV $73.163 billion).
August 2024: Fifth Record-Breaking Month
FXSpotStream closed the summer with another exceptional month, achieving its fifth record-breaking Average Daily Volume (ADV) of 2024 at $96.796 billion. This figure represents a significant 59.33% year-on-year increase and contributes to a year-to-date ADV growth of 41.15% compared to the same period in 2023.
Total ADV: $ 96.796 billion
Spot ADV: $ 73.163 billion
Other products ADV: $23.633 billion
Recap of 2024 Highlights
January: Started the year strong with a record high Total ADV of $73.645 billion.
February: Slight decrease to $72.327 billion, but still 15.07% up year-on-year.
March: New record set at $82.577 billion, a 14.17% increase from February.
April: First time crossing the $2 trillion mark in monthly volume, with a record ADV of $91.877 billion.
May: Second-highest ever ADV at $86.381 billion.
June: Another record broken with Total ADV reaching $94.841 billion.
July: Slight decrease to $92.780 billion, but still the second-highest ever at that time.
August: New all-time high set at $96.796 billion.
Consistent Growth
Throughout 2024, FXSpotStream has shown remarkable consistency in volume growth:
Spot ADV Growth: Spot trading has seen steady increases, with the ADV rising from $54.737 billion in January to $73.163 billion in August, representing a 33.66% growth over eight months.
Other Products Expansion: The ADV for other products has shown even more impressive growth, starting at $18.902 billion in January and reaching $23.633 billion in August, a 24.98% increase.
Year-on-Year Improvements: Each month in 2024 has shown significant year-on-year growth, ranging from 15.07% in February to an impressive 66.13% in April.
Monthly Performance Analysis
January to February: Despite a slight decrease in Total ADV (-1.79%), other products saw an 8.41% increase.
February to March: A substantial increase across all metrics, with Total ADV up 14.17%.
March to April: Another month of growth, with Total ADV increasing by 11.26%.
April to May: A slight pullback with Total ADV decreasing by 5.98%, but still maintaining high volumes.
May to June: Rebounded strongly with Total ADV increasing by 9.79%.
June to July: A minor decrease of 2.17% in Total ADV, but still near record levels.
July to August: Finished strong with a 4.33% increase in Total ADV, setting a new record.
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.
To view FXSpotStream's monthly ADV data going back over 5 years+, and relative to other FX venues, please click here.
