Euronext Posts Solid FX Volume Jump in March 2021

Pan-European trading venue operator, Euronext has published its monthly trading metrics for March, reporting an 11.2 percent month-over-month growth in the forex volumes of Euronext FX. In absolute terms, the FX volume on the exchange remained more than $486 billion, compared to the previous month’s $437 billion.

Euronext operates bourses in Paris, Amsterdam, Brussels, London, Lisbon and Dublin, and recently, it purchased Italy’s largest stock trading borsa. Additionally, under its Euronext FX operations, it offers ECN for sport forex trading.

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Despite the jump in the total volume, the FX average daily volume (ADV) on the exchange went down last month. Euronext reported that the monthly ADV for March came in at $21.17 billion, while the number was at $21.89 billion in February. There were 23 trading days in March 2021 as compared to 20 in February.

Much behind the Record Numbers

On a yearly chart, the total volume from FX trading went down by 40.2 percent, while the ADV slumped 42.8 percent. That figure was expected as the trading venue hit its record numbers in March 2020 due to increased demand with the market volatility.

Coming to the quarterly numbers, Euronext FX witnessed a total quarterly volume of $1.35 trillion between January and March, which is down from Q1 of 2020 at $1.65 trillion.

Moving from FX, the demand for the derivatives business of the group surged in March. Euronext reported a total of $15.2 trillion in monthly trading volume from its European derivatives business, a month-on-month surge of 15.6 percent. Moreover, the cash market demand jumped by 10.6 percent.

While the FX demand remains strong, Euronext discontinued its FX Tape service, which provides a central reference point for prices of spot FX transactions, at the end of last year.

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