Although heightened volatility has continued into the month of April, which has led to an increase in trading activity and volumes, data from the (TFX) suggests that last month has not been quite as active as March.
The TFX offers a range of assets for futures trading – foreign exchange (forex), equities and interest rates. Overall, the combined trading volume for TFX products during the month of April was 3,905,631 contracts, with an average daily trading volume of 178,604 contracts.
When measuring this against March of 2020, which, as was an exceptional month for the exchange, April’s combined trading volume has fallen by 61.6 per cent. However, it is worth noting that March’s performance was much higher than usual, and the trading volume posted in April is still higher by 68.4 per cent on a yearly comparison.
FX volumes fall MoM on TFX
Taking a look at FX daily futures contracts, as can be expected, volumes were lower month-on-month. For the month, the total trading volume was 2,490,865 contracts, with an average daily trading volume of 113,222.
Measuring this against March, which posted a more than 100 per cent uptick in volumes – both on a monthly and yearly comparison – April’s volumes are lower by 61.3 per cent, but they are still stronger by 35.2 per cent against April of 2019.
Although the total trading volume of equity index daily futures contracts dropped by 62.2 per cent against the previous months, with a total trading volume of 1,390,279 contracts, it was still significantly higher against the same period of the previous year, posting a 232.0 per cent growth.
In April, a total of 24,487 Three-month Euroyen futures contracts were traded. Unlike the other products, this trading volume is lower on both a monthly and yearly measurement, falling by 53.2 per cent and 57.5 per cent, respectively.