360T has revealed that it officially launched its undisclosed marketplace, 360T ECN, in April.
The firm claims that the new ECN will enable access to additional liquidity and trading styles, adding another complementary execution mechanism to its OTC FX trading offering.
Carlo Koelzer, CEO of 360T Group, says: “With the introduction of 360T ECN, our clients can take full advantage of accessing the entire variety of liquidity. Considering new regulatory and capital requirements, our ECN is the right solution for the future FX ecosystem, including the facilitation of the credit mitigation. 360T and Deutsche Boerse Group are servicing the market participants with the most holistic offering in the market, with a combined OTC and listed product range, which will also enable liquidity to float from the listed market into the OTC market and vice versa.”
In addition, 360T announced that it reached an all-time high for daily trading volumes of $110 billion on April 18, and an all-time high for monthly ADV in April of $72 billion.
The group does not publicly publish the trading volumes on its platform so there is no evidence of how much higher these volumes were than normal.
“This strong trading result is driven by the consistent increase of our customer base and represents the results of our growth and accelerate program, which forms a significant part of 360T’s and Deutsche Boerse Group’s FX strategy. We continue to heavily invest in our offering of a true one-stop shop, hybrid FX marketplace through a single integrated gateway,” says Koezler.