Pan-European derivatives exchange Euronext has announced its trading results for June 2022. The company reported a slight increase of 0.2% in its sot trading for the month, which comes in at $510 billion. But the increase was nearly 20% when compared with its spot trading volume in June last year.
The company recorded a total of $23.18 billion in its average daily volume compared to the $19.35 billion recorded year-over-year (YoY).
Euronext Earns ADV Of $23.64 Billion For The Quarter
The trading firm also recorded an increase in its average daily volume for the second quarter of the year (From April to June 2022). According to the report, the firm realized a total of $1.54 trillion for the quarter. This represents a 27% increase from the second quarter of the previous year. However, the quarterly ADV stood at $23.64 billion.
Apart from Euronext, other institutional sot forex trading platforms also had similar trends. For US-based Cboe FX, the trading demand for the month was almost flat, but the YoY volume surged by almost 19%.
Euronext is an established forex and CFDs operating platform with derivatives markets in countries like Belgium, the Netherlands, and France.
The firm started offering FX products following the acquisition of FastMatch. The company was launched as a joint venture by FX broker FXCM and credit Suisse in 2017 before it was rebranded to Euronext FX.
Euronext Continues Its Product And Service Expansion
The platform’s spot FX venue provides services to institutions all over the regions it has an operational office. It also operates an electronic communication network (ECN), with matching engines in Singapore, London, Tokyo, and New York.
Euronext wasn’t to diversify its offerings as it prepares to list Jacobi Bitcoin ETF, the first Bitcoin exchange-traded fund in Europe. The firm has already received a license to operate the exchange later this month. Euronext stated that it recorded a 4.8% growth in the derivatives markets in June. However, on a year-over-year basis, the demand declined by 0.3% due to the diminishing demand in the derivatives market.