CME Group’s October FX volumes lowest since 2009
CME Group’s October FX volumes explained by professional Forex trading experts the “CME Group’s October FX volumes” FX trading team.
CME Group’s October FX volumes
CME Group, which runs the world’s largest derivatives marketplace, announced that FX contract volumes (mainly Eurodollar futures contracts) in its system were down by 32% in October from September to an average of 702,000 contracts daily. October’s volumes were also 23% below last year’s October levels, and also represents CME’s slowest month for FX since August 2009.
While CME’s reported volumes are futures contracts, they typically are a good predictor of retail / spot volumes as well. Those markets are interconnected, and are typically driven by the same catalyst — namely volatility.
In the LeapRate Retail FX Volume Index, sponsored by Leverate, September FX volumes were up 7% globally following a (very) slow summer. But unless CME’s low October volumes end up being a poor predictor of activity in the spot FX world (they are rarely wrong), it looks like volumes are indeed back down. We should learn more when Forex ECNs such as ICAP, Hotspot FX, and Thomson Reuters release August numbers in the coming days and weeks Stay tuned…
CME Group’s October FX volumes Conclusion
For more information about currency trading brokers visit TopForexBrokers.com Forex brokers comparison website, Tip ForexSQ.com foreign exchange trading
experts please by share this article about CME Group’s October FX volumes