This Sunday, Cboe FX released its monthly trading volume for June. The saw a decrease in trading volumes from a month-on-month perspective but saw growth from a year-on-year perspective.

In May of this year, Cboe FX saw just over $940.27 billion passing through its trading platform. This slumped down to $793.27 billion in June, an 18.5 percent month-on-month decrease.

This discrepancy is slightly misleading as there were fewer trading days in June than there were in May. In June there were 21 trading days, but in May there were 23. As a result of this, the decrease in trading was actually smaller than is suggested by a comparison between the total trading volumes for the two months.

This can be seen if we compare average daily, rather than total, trading volumes. In May, Cboe FX saw an average daily trading volume of $40.88 billion. This number shrank in June to $37.80 billion, representing an 8.1 percent decline. This was still significant but, as you can see, not as significant as the decline in overall trading volume.

MoM bad, YoY good

Things were not so bad for Cboe FX from a year-on-year perspective. In June of 2017, despite having 22 days of trading, one more than this year, Cboe FX of $613.97. This means that the firm saw a year-on-year increase of 29 percent.

From an average daily trading volume perspective, things were even better. Last June, Cboe FX had an average daily trading volume of $27.91 billion. In percentage terms, this meant the firm saw a 35 percent year-on-year increase in its average daily trading volume for June of this year.