Wild volatility in the financial markets during all of March 2026 following the outbreak of war in Iran and the Middle East has led, not unexpectedly, to a large jump in FX trading volumes at leading institutional eFX venues.
Each of FXSpotStream, Cboe FX, EuronextFX and Deutsche Borse’s 360T saw month-over-month trading volume double digit percent increases of between 14% and 27% during March, following what was a fairly slow February. Overall, the average volume increase in March came in at 22%.

Cboe FX (formerly HotspotFX)
- March 2026 average daily volumes were $74.46 billion, +24.8% from February’s $59.67 billion.
EuronextFX (formerly FastMatch)
- March 2026 ADV $39.71 billion, +27.7% from February’s ADV of $31.10 billion.
FXSpotStream
- In times of extreme volatility, clients and LPs look for their FX solutions to be resilient, reliable and robust. While March brought new highs in terms of ADV, we are encouraged by the way the Service has performed, and the benefits that the recent migration work has seen for everyone connected to FSS.
- March’s Overall ADV was USD 173.604 billion, consisting of USD 127.922 billion in Spot and USD 45.682 billion in other products. March also brought a new daily high on March 3, at USD 226.480 billion across all products.
- FXSpotStream’s Total ADV MoM (Mar ‘26 vs Feb ‘26) increased 14.45%
- FXSpotStream’s Total ADV YoY (Mar ‘26 vs Mar ‘25) increased 48.52%
- FXSpotStream’s Spot ADV MoM (Mar ’26 vs Feb ‘26) increased 21.12%
- FXSpotStream’s Spot ADV YoY (Mar ‘26 vs Mar ‘25) increased 53.99%
- FXSpotStream’s Other ADV MoM (Mar ‘26 vs Feb ‘26) decreased 0.85%
- FXSpotStream’s Other ADV YoY (Mar ‘26 vs Mar ‘25) increased 35.08%
- For Q1, FXSpotStream registered an ADV of USD 160.213 billion, marking a 48.76% increase compared to the same period last year (Q1 2025).
360T
- Average daily volumes (ADV) at 360T came in at $48.92 billion in March 2026, up 22.6% from February’s $39.91 billion.
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