From financemagnates by Damian Chmiel

Cboe Global Markets reported a significant decline in global foreign exchange (Forex) trading volumes for October, while experiencing substantial growth in its Asian operations, highlighting shifting market dynamics across regions.

Cboe FX Trading Volumes Drop 7.4%, While Asian Markets Surge

Average daily volume (ADV) in the Cboe’s global FX segment fell to $44.4 billion in October, marking a 7.4% decrease from the $47.9 billion recorded in the same month last year. The decline was even more pronounced when compared to September 2024, showing a 7.7% month-over-month drop from $48.1 billion.

Year-to-date results proved more favorable. ADV from January to October 2024 was $46.8 billion, up nearly 6% from $44.4 billion in the same period in 2023. It suggest the October decline may be a temporary deviation from the broader upward trend.

Source: Cboe

This does not change the fact that other major trading venues also reported a decline in FX volumes earlier. These included entities from Japan and Europe. For instance, Click 365 saw a drop of around 12%. The exception was CME, where EBS Spot FX ADV rose by 15% to $58.3 billion.

The exchange operator's Asian operations emerged as a bright spot, with Japanese equities trading volume surging 47% year-over-year to 288 billion yen. Australian equities trading also showed resilience, climbing 8% to 777 million AUD compared to October 2023.

Mixed Performance Elsewhere

In Europe, Cboe Clear Europe achieved notable milestones, processing 117.5 million client trades in October - its highest monthly volume in 2024. The clearing house also marked its entry into the German market, clearing its first trades on Deutsche Börse.

The options segment showed mixed performance, with multiply-listed options contracts declining 3.9% year-over-year to 10.9 million contracts per day. Index options volumes experienced a steeper decline of 12.3% compared to October 2023, averaging 3.9 million contracts daily.

Futures trading witnessed the most significant decline among all segments, with average daily volume dropping 36% year-over-year to 187,000 contracts. U.S. equities trading volumes also softened, with on-exchange matched shares decreasing 6.4% compared to the previous year.

The European equities business provided another positive highlight, with average daily notional value rising 13.6% year-over-year to €10.5 billion. The segment's Periodic Auctions service set a new record with €2.5 billion in average daily notional value.