The first three platforms to confirm data
for June show that FX volumes rose across the board driven, of course, by
activity around the UK’s vote on European Union membership.
FastMatch recorded average daily volume
(ADV) of $16.1 billion in ...
Trying to decipher platform performance
during last month’s UK-inspired mayhem is almost as difficult as keeping track
with the latest shenanigans in UK politics following the vote to leave the EU –
but I’ve had a go and there ...
Multibank platform providers need to broaden the range of
liquidity options that they offer clients in order to thrive in the diverse FX
market ecosystem, said panelists at Profit & Loss' Forex Network New York conference.
There has been much discussion ...
The first batch of trading venues to
provide turnover data indicates that trading volumes in July, perhaps
inevitably, retreated from the Brexit-inspired heights of June.
HotspotFX reports average daily volume
(ADV) of $26.25 billion in July, down 9% from June’s $28.8 billion. ...
The BIS Triennial survey highlights the drop in spot volumes, but how does the platforms' performance compare over the same period?
FastMatch and TradAir have announced a new partnership looking to target professional bank and institutional ‘clicker’ traders.
FastMatch, currently services banks, institutional clients, and professional trading firms, with average daily volumes (ADV) of around $13 billion, executed via APIs.
But now the ECN is targeting traders that still execute by clicking on screens and typically leverage a broad range of trading styles and workflows. In order to reach the ‘clicker’ segment of the market, FastMatch decided that it needed a technology partner, with a secure, end-to-end trading platform, that was fully integrated with FastMatch’s ECN order book.
FastMatch has hired Gareth Thomas as director of sales in its New York office.
In his new role, Thomas will be charged with marketing FastMatch products to hedge funds, banks, brokers and asset managers.
He joins the ECN from BGC Mint, where he ran the FX desk, prior to which he spent over eight years at GFT Markets London (now part of Gain Capital Group), where he was a director of global execution and market making. Before that, Thomas had FX dealing roles at Credit Lyonnais and NatWest Markets.
The first FX platforms to report their monthly trading volumes show that trading activity bounced back in September after a significant slowdown in August.
Hotspot, FastMatch and Gain GTX all reported increases in average daily volume (ADV) on their platforms, both month-on-month and year-on-year.
Hotspot registered an ADV of $28.3 billion in September, a 25% increase from August and an 8% year-on-year increase.
GTX reported an ADV of $8.4 billion on its ECN and SEF combined for September, a 30% increase from the previous month and a 29% increase from September 2015.
Thomson Reuters says its sterling volumes trebled on October 7, the day of the Cable flash crash which saw the pair drop from above 1.25 to below 1.15 before recovering to 1.24.
The company does not break down its volume data by product or currency on a daily basis and provides no further details, however this would appear to be further evidence of the phenomenon in FX markets whereby dealers typically head to the major matching venues of EBS Market and Thomson Reuters Matching when markets get hectic.
The first six FX platforms to report volume data indicate a good November for the industry with the US elections driving sufficient volume to more compensate for the traditionally quiet period around the US Thanksgiving Holiday.
Bats’ HotspotFX handled average daily volume (ADV) of $30.4 billion in November including just under $64.5 billion on November 9 following the US poll. It was a similar picture at FastMatch where ADV was a new high for the platform at $17.1 billion.
Finally it was also a very good month for Gain’s GTX, which recorded ADV of $10.3 billion on its ECN and SEF and just over $4 billion on its Swap Dealer.
FastMatch has made its proprietary algorithmic and transaction cost analysis (TCA) services available to all its subscribers.
The firm has been offering algorithmic trading to asset managers via its AgencyFX product for the past 18 months to satisfy increasing demand from this customer segment for algorithmic execution products.
Now it will be offering it to both buy and sell side users of the platform. Clients using FastMatch algorithms will receive automated TCA reports upon completion of their orders showing the algorithmic execution performance versus arrival price, FastMatch midpoint and other benchmarks.