NEX Group plc, (NXG.L), the operator of NEX Markets, has announced its monthly average daily volume data for July 2018. The results, which cover its electronically traded products, show that NEX Markets had a lacklustre month, down in all segments from .
NEX Markets electronically trades spot foreign exchange, US Treasuries, European and US repurchase agreements (repo) products. Whilst some of these segments are up year-on-year, all segments are down from June, which in turn saw weak volumes when compared to May.
Looking first at the Spot FX on NEX’s EBS platform, one of the , the average daily volume in July 2018 was $81.9 billion. This was a slight increase from the same period last year, which had a daily average volume of $81.6 billion. However, when compared to June this year, the volumes are down by 15%. On a yearly basis, for the 12 months ended July 31, 2018, volumes were up by 8% when compared to the prior period.
The for European repo on NEX Markets was €250.3 billion in July. This was a jump of 10% from July 2017. For the 12 months ended July 31, 2018, volumes were also up by 23% when compared to the previous corresponding period. However, when compared to June this year, volumes declined by 7%.
US repo daily average volumes fell slightly year-on-year by 1% in July this year, coming in $222.2 billion. However, US repo volumes had the smallest month-on-month decline out of the four products, falling by 3%. For the year ending July 31, 2018, average daily volumes were up 9% year-on-year.
US Treasuries see all-round declines
The average daily volume for US Treasuries on the EBS Markets, also posted the most notable year-on-year decline, falling by 14% to $125.4 billion from July last year. The segment also saw a significant drop of 20% in volumes from the previous month. Furthermore, for the year ending July 31, 2018 volumes declined by 1% year-on-year.
For this segment, the volumes include UST Benchmarks and Agencies. The statement from the company adds that Off-the-Run securities, including T-Bills, are provided pursuant to an agreement with ICAP Securities USA LLC.
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