FOREX trading measured lower against the previous month by 23.9% at $107.4 billion against last month at $141.2 billion. The slump represents the lowest FX trading volume since 2016.
Trading volume plummeted to its lowest for 2019 this November. The previous record for the lowest volume is $124.3 billion last April, which is still 13.6% above the current volume.
Commodities also fell month-on-month by 4.7% from $33.7 billion in October to $32.1 billion in November. Fortunately for the firm, year-on-year commodities trading increased by around 34%.
However, fixed-income trading sunk by 27% at $8.4 billion with average daily volume down $100 billion against October’s $500 billion.
Equities fell from $62.8 billion to $44.7 billion in November with a 28.8% drop.
Other Sinking Broker Firms
Major broker firms Cboe, Euronext, and FXSpotStream, fell with Saxo Bank this November.
Cboe reported a weak turnover for November, disclosing a $598 billion total trading volume, 17% lower than October’s $728 billion. The figure was 22% lower than their $766 billion records last 2018.
Institutional FX trading volumes went down 10% month-over-month to $28.5 billion last October from $31.66 billion in September.
ACV numbers from Cboe fell by 18% on a year-on-year basis against $34.86 billion in 2018.
Euronext FX went down 27% from $429 billion to $313 billion in November 2019. The broker’s average trading volume metric also went lower month-on-month by about 20% relative to $18.6 billion in October.
Meanwhile, FXSpotStream’s activity on trading fell to its weakest figures in almost 15 months. The broker reported a $30.95 billion in average daily volume, lower by 7.2% from $33.36 billion in October 2019.
Total trading volumes also dropped for FXSpotStream in November with $650 billion. The figure was at its lowest reading since July 2018 and down almost 85% against October’s $767 billion figure.