FXSpotStream’s ADV Figures for November Show a Strong Increase

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According to the figure, the multibank FX streamlining platform recorded ADV of $51.54 billion for the month, which shows an increase from the previous month’s figure.

This will be the second-highest ADV for the company since it started operations. It recorded the highest ADV volume in March this year.

While the ADV for November shows a 2.15% increase from the October volume, it recorded a much impressive increase of 29.8% when measured year-over-year.

Additionally, the overall volume for FXSpotStream surged 21.31% to $1.134 trillion. This will be the seventh time the volume has crossed the threshold of $1 trillion this year.

A Consolidation On Last Year’s Impressive Performance

FXSpotStream is consolidating on the great year it had in the market last year. The platform offers precious metals and multibank FX services, providing support for trading Spot, FX, and forwards. In 2020, the firm recorded an 18.52% increase in overall volume, and it has continued with a similar momentum this year.

The company has continued seeing impressive growth in all products but Forwards seems to be top on the list in terms of performance. The demand for the product has grown by 57% YoY. NFDs and Swaps are also seeing a strong performance with 23% and 44% YoY growth respectively.

FXSpotStream also saw a strong performance, especially in the FX market even when the Covid-19 crisis was causing high volatility. The company hopes to keep the momentum going as it enters the last month of the year.

Fears Of Omicron Variant Drives Market

The company has also recorded impressive ADV YTD over the past months. According to the report, FXSpotStream’s ADV YTD from January to November reached $48.932 billion, which shows a 14.77% surge compared to the volume at the same period last year.

The data also shows that activities in October and the major parts of November were flat.  But towards the end of November, activities picked up massively due to the market’s reaction to the Covid-19 Omicron variant. Between November 26 and 30, trading volumes across equity and FX soared, almost doubling daily averages during the period.

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