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. ...
Three FX platform providers have reported lower volumes for the second consecutive month, highlighting the difficult nature of the market in August.
The first trio of FX platforms to report FX volumes for October indicate little change from September’s numbers although they were clearly helped by increased activity surrounding the Cable flash crash on October 7.
Bats Hotspot reports average daily volume (ADV) of $25.3 billion, a 10.6% decline from September, while FastMatch FX says its ADV was $13.6 billion, a fraction down from September’s $13.7 billion. Gain GTX handled $8.7 billion per day, up 3.5% month-on-month.
Hotspot and FastMatch can be thankful for a very busy day on October 7, the day of the Cable flash crash, the former handling $37 billion that day and the latter $20.6 billion.
Vince O’Sullivan joins Gain Capital’s GTX this week as director of foreign exchange sales in London.
O’Sullivan will have a focus on selling to hedge funds and banks throughout Europe, the Middle East and Africa (EMEA) and reports to John Meisner, global head of sales at GTX.
O’Sullivan was last at Barclays in London where he was a director and head of EMEA distribution for e-FX. He started at Barclays in 1978 as a foreign exchange cashier, before moving onto the FX trading.