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Lava Helps FXall Surpass $100 Billion Volume Milestone

FXall says it had a record volume day on 24 February, surpassing $100 billion on a single count basis with all-time high volumes on both the FXall portal and the recently acquired LavaFX platform.

The volume growth was driven by an increase in trading activity across all client segments including hedge funds, commodity trading advisors, banks, broker-dealers, corporate treasurers and asset managers, the company says.

FXall acquired LavaFX from Citi at the beginning of the year. It says LavaFX volume is up 40% versus the first quarter last year and has helped FXall to rapidly increase its pool of active trading clients and natural liquidity.

Phil Weisberg, CEO of FXall, says volume growth in the first quarter “demonstrates how our recently broadened services, including the LavaFX platform and enhanced liquidity, continue to gain traction around the globe.”

The growth of FXall’s business has also led to additions to staff, the company says. Client-facing hires in Asia include Sam Tijoe as head of services for Asia, based in Singapore, and Amy Tse as director of sales and relationship management for North-East Asia in Hong Kong.

Tijoe, formerly head of Currenex for Singapore and Hong Kong, has taken responsibility for driving FXall’s initiatives across Asia, particularly looking to enhance FXall’s service to its clients in the region and to deepen the relationships with FXall’s liquidity providers.

Tse’s focus is the development of FXall’s business in Hong Kong, Taiwan, Korea and China. Tse joins from FXCM Pro where she spent two years within the institutional sales team, following a 13-year stint with EBS.

In the Americas region, Kari Honkaniemi has joined as director, sales in New York, along with Dan Levine who has been appointed director, relationship manager in the Boston office.Honkaniemi has over 20 years of global FX sales experience and previously worked at Deutsche Private Bank and Citigroup in New York, Zurich and Helsinki.

Levine worked for State Street in Boston, most recently as a senior sales executive for strategic accounts e-exchange.

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