CFD broker CMC Markets has announced the completion of an integration with FlexTrade Systems to enable the wider dissemination of its proprietary CFD liquidity.
The firm says that while dissemination of foreign exchange liquidity is “a rapidly expanding market, as seen with the growth of so-called ‘prime-of-prime’ services”, few counterparties are currently offering anything similar when it comes to CFDs.
CMC Markets says that while its CFDs aren’t available as a default to all FlexTrade clients, those liquidity takers who are interested in trading the company’s 85 indices, commodities and treasuries CFDs can now request to have access.
Thomson Reuters says that spot FX volumes across its platforms declined in August.
Gain Capital’s GTX has launched full-amount streams on its ECN platform.
The new facility, which enables clients to execute small and medium-sized spot FX orders on firm prices for the entire trade quantity, is designed to minimise information leakage and market impact for buy-side traders as well as benefit liquidity providers.
For buy-side traders, full-amount streams minimise pre- and post-trade information leakage and market impact by limiting knowledge of the prospective order (pre-trade) and execution (post-trade) to the buy-side client and the single liquidity provider counterparties to the transaction.
Following the mixed news from other platforms to report last week, the pattern of varying fortunes in terms of average daily volume (ADV) has continued with Nex Markets' EBS reporting a month-on-month and year-on-year increase, but CME Group reporting a drop from July 2017 but a healthy rise from August 2016.
Nex says that ADV in spot FX was $83 billion in August on EBS, up 2% from July, but 21.3% up year-on-year. CME meanwhile, reports ADV in its FX futures and options on futures contracts was 817,000, the notional value of which, Profit & Loss calculates to be $81 billion per day. This is a 29.4% increase from August 2016 but 5% lower than July.
After three platforms reported mixed results last week, FXSpotStream has delivered a strong performance for the month.
The first three platforms to report FX average daily volume (ADV) for August have presented a mixed picture, with one matching record highs, one dropping and one remaining stable.
CBoE’s HotspotFX platform reports ADV of $27.1 billion in August, unchanged from July but 19.9% higher than August 2016.
Euronext’s FastMatchFX saw ADV decline in August to $16.25 billion, down 9.7% month-on-month, but rising 57.8% from August 2016, while Gain’s GTX reports ADV of $12.2 billion per day – a 21% rise from July and 88% higher than August 2016.
Gain Capital has announced the launch of a new money transfer service on its forex.com brand.
The firm says the new service, which enables individuals and businesses to send money in 26 currencies to over 200 countries via their desktop, tablet or mobile device, features “highly-competitive exchange rates, fast transfer times and free priority services”.
The service offers instant rate quotes and transfer times of under 24 hours within the EU and 24-48 hours in most other regions, it adds.
Fenics Market Data, the market data division of BGC Partners, and China Credit BGC Money Broking Company (CCT-BGC) have agreed to a distribution partnership, whereby Fenics Market Data will exclusively provide CCT-BGC's Chinese market data products to clients.
Through this agreement, Fenics Market Data is becoming the sole international commercial agent for CCT-BGC's onshore Chinese data, covering the fixed income, interest rate and FX markets.
CCT-BGC, established by China Credit Trust Co and BGC, is the first money-broking company granted a licence by the China Banking Regulatory Commission (CBRC) in Beijing.
Thomson Reuters says that average daily volume (ADV) in non-spot FX products was $299 billion in July – the highest recorded by the platform since it started reporting data in January 2013. This represents a 5.6% increase from June and a 14.1% increase from July 2016.
The news was not all positive, however, because the firm also says that ADV across its spot FX platforms was $88 billion in July, a 5.3% decline from June and a 9.3% drop year-on-year.
Unsurprisingly the first six FX platforms to report results are indicating a drop off in activity in July. In spite of more political upheaval in the US and a declining dollar, activity looks to have slowed from June. Although year-on-year the numbers are higher.
At the top level, NEX Markets' EBS saw a very small decline, CBoE's HotspotFX, Euronext's FastMatch FX and Gain GTX all saw month-on-month declines in single figures and CME Group and FXSpotStream registered double digit declines.