August 2015 Forex Industry Metrics: Back to the Grind!

After seeing a bit of a slowdown in July, forex industry players were back in action the following month, posting impressive gains in volumes. Major exchanges and brokers all over the globe reported a rebound in trading activity, as several top-tier market movers were in play.

In the United States, the CME Group saw an average of 890,000 forex contracts per day in August, reflecting a 21.4% jump from the previous month’s 733,000 average daily volume (ADV). Compared to the same month a year ago, the ADV is up by 33% with an average notional value of $91 billion.

Over in Japan, the Tokyo Financial Exchange (TFX) reported a total of 3,945,138 contracts for August 2015 based on Click365’s trading volume. This amounts to a 12.3% monthly increase from July 2015 and a whopping 100.4% jump from August 2014.

In Russia, the Moscow Exchange or MOEX posted an 86.7% annualized gain in FX trading volumes from 17 trillion RUB in August 2014 to 31.7 trillion RUB last month. On a monthly basis, this represents a 10% increase in activity. The average daily turnover also indicated monthly and annual gains to reach 1.51 trillion RUB in August 2015. Meanwhile, Germany’s Eurex Group saw an average of 8.8 million contracts per day in August, 3.5% compared to July’s 8.5 million contracts.

It’s also worth noting that the entire financial market saw a broad-based pickup in activity for the month most probably caused by investors rushing to liquidate their riskier holdings or piling on their safe-haven positions then. Russia’s MOEX chalked up a jaw-dropping 200.9% increase in derivatives trading and a 17.4% rise in equity volumes while energy and agricultural commodities over at the CME Group saw double-digit percentage gains in trading volumes as well.

CME Group Monthly Average Daily Volumes

Retail forex brokers enjoyed marginal gains last month, with Interactive Brokers showing 652,000 in Daily Average Revenue Trades (DARTs), 13% higher compared to July and 49% higher compared to August 2014. A total of 317,000 customer accounts have been active in August 2015, up by only 1% compared to the previous month. For Cyprus-based broker EXNESS, monthly forex volumes reached $201.5 billion in August, up 17.6% from the same month last year but 0.9% lower compared to that of July. New accounts were at 29,068 by the end of the month, slightly lower than the 29,099 accounts opened during the previous month.

When it comes to the pairs traded, CME Group noted a surge in yen contracts mostly due to the risk-off market environment brought about by the crash in Chinese equities. Japan’s TFX reported a 22.1% monthly gain in USD/JPY activity while AUD/JPY saw a rise of 13.8%. European currencies namely the pound, euro, and franc also enjoyed respectable gains trading activity for August while commodity currencies such as the Aussie, Loonie, and Kiwi lagged behind.

Do you think the pickup in trading activity could carry on until September or was this just a temporary bounce from the slump in July? Don’t be shy to share your thoughts in our comments section!