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 ...
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 ...
Thomas Reichel joins GTX from Hotspot as its new director of
institutional sales, based in Chicago.
In his new role, Reichel will report into John Miesner,
managing director and global head of sales at GTX.
Reichel has more than 20 years' ...
GTX has hired Eduard Poltavsky as director, e-FX sales.
GTX plans to launch new a matching engine for its flagship ECN in London October 15, 2016, with a Tokyo-based matching engine to follow within 90 days.
The new matching engines, along with GTX’s existing matching engine in New Jersey, will be accessible by clients connected to any of the three locations. The clients can then choose whether to interact only with local liquidity or to access the global order book.
“This move has been driven by client demand, we had a lot of clients – particularly the more latency-sensitive clients – reach out and say that it would be more efficient for them to access liquidity locally.
GTX and Nightberg, an independent macro strategy firm founded by former hedge fund strategists, are partnering to distribute Nightberg’s full suite of investment research to GTX's institutional clients.
The product will be provided on a complimentary basis to clients of GTX’s registered swap dealer, which offers agency execution services for swaps, options, forwards, non-deliverable forwards and other products in G10 and emerging market currencies.
“We are excited to work with GTX to provide flexible access to our investment research,” says Mario Manna, co-founder of Nightberg. “Both Nightberg and GTX are active in the global macro hedge fund and broader asset manager space and we see an excellent opportunity to work together to provide value to clients.”
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.
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.