The first four platform providers to publish FX average daily volume (ADV) for September have all reported significant month-on-month (MoM) and year-on-year (YoY) increases.
FXSpotStream’s ADV for September was $23.9 billion, which represents its highest ever monthly ADV since the service was founded nearly six years ago. It is also a 24.6% MoM increase and a 54.9% YoY increase in ADV.
The record setting volume in September caps a newsworthy month for FXSpotStream, as it revealed exclusively to Profit & Loss that it has added State Street as its 13th liquidity provider, has hired a new CTO and is planning to launch a new analytics suite.
Monthly ADV at Hotspot was $33.1 billion in September, up 22% from August and up 17% from September 2016. Indeed, this represents Hotspot’s highest ADV since January 2015, when it hit an average of $34.3 billion for the month.
FastMatch had an ADV of $20.9 billion in September, a 28% increase from the $16.3 billion ADV it reported the previous month. It also represents a sizable 52% increase from the $13.7 billion ADV that it recorded in September 2016.
The GTX ECN posted a record high ADV of $13.3 billion for September, after it matched its previous record high of $12.2 billion last month. This represents a 9% MoM increase and a 57% increase YoY increase for the platform.
Its swap dealer platform posted an ADV of $3 billion, down 11% from August and down 3% from September 2016.