Tag: Gain GTX

Gain GTX

Thomson Reuters FX Volumes Up, 360T Down, in August

Thomson Reuters FX volumes rose slightly in August from July, while 360T’s – which now include Gain GTX turnover – fell slightly. Both were up year-on-year.
Last week Thomson Reuters reported average daily turnover in all FX products of $403 billion, compared to $398 billion in July – this represents a 9.8% increase year-on-year.
Spot FX ADV at TR across its platforms was unchanged month-on-month at $94 billion, however it was up 14.6% higher than August 2017.
Deutsche Boerse’s 360T business line meanwhile, reports ADV of $68.6 billion in all FX products, a 4.2% decline from July.

Platform Volumes Decline in October

The first four platforms to report FX volumes for October indicate that while turnover failed to maintain the September highs, average daily volume (ADV) remains close to the year’s peak and in healthy territory.
CBoE’s HotspotFX reports ADV of $32 billion in October, while FXSpotStream reports ADV of $19.9 billion. Elsewhere, Euronext’s FastMatchFX says it handled ADV of $18 billion in October and finally in the first group of platforms to report Gain Capital’s GTX reports ADV of $11.4 billion.

Mixed News on August FX Volumes

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.

Platform ADV’s Lower in July

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.

Platforms Report Monthly Data

The first FX platform providers to report average daily volume (ADV) data indicate May maintained the momentum of the previous months.
Spot FX activity on NEX Markets (formerly EBS) was $81.3 billion per day, up 6.8% from April and 12% higher year-on-year. At CME combined FX futures and options on futures volume was 823,000 contracts per day.
CBoE’s HotspotFX reports ADV of $28.1 billion, a 1.4% increase on April and a very healthy 20% increase from May 2016, while FastMatchFX reports ADV of $22.5 billion, a 18.4% month-on-month increase and almost double May 2016’s ADV of $11.4 billion.
FXSpotStream handled $17.5 billion in May, up 2% from April and 9% from May 2016 and Gain’s GTX reports ADV across its ECN and SEF of $10.7 billion, a 7% drop from April but a 55% increase from May 2016.

GTX Hires Schwartz for Agency Sales

Gain GTX has hired Ed Schwartz as managing director, agency sales, for its swap dealer business.
This business provides “voice” execution services on an anonymous, agency basis for foreign exchange spot, deliverable and non-deliverable forwards, swaps, and options.
Prior to joining GTX, Schwartz was at Citi, where he was responsible for covering global macro and real money accounts. He previously held senior sales and trading roles at Bank Julius Baer, JP Morgan and Bankers Trust-Deutsche Bank. Schwartz will be based in GTX’s Jersey City office.

FX Volumes Drift Lower in February

The first three platforms to report FX volume data for February indicate a slightly quieter month than January.
Bats’ HotspotFX saw average daily volume (ADV) of $27 billion in February, a 12.6% decline from January and 17.2% down on the same month in 2016.
The picture was slightly more positive at the other two platforms to report, however, with FastMatch FX handling $16.6 billion per day in February, and Gain’s GTX $11.1 billion, both down on the month but up year-on-year.

Strong Results from FX Platforms in January

The relatively volatile start to 2017 in FX markets has been reflected in strong data from the first three venues to report, with one platform achieving a new high in average daily turnover (ADV) and two others matching recent peaks.
Bats’ Hotspot FX platform reports ADV of $30.9 billion on a 21-day basis, while FastMatch FX handled $17 billion per day and Gain’s GTX shattered its previous record high (by more than 22%) by recording just over $12.6 billion per day.

Thomson Reuters Bucks Trend with Double Decline

Thomson Reuters says its FX platforms handled $82 billion per day of spot volume in December.
The 18.8% decline from November’s data is broadly in line with other platforms to report, all of whom were down month-on-month, however whereas as its rivals all posted a year-on-year gain Thomson Reuters has registered a 9.9% year-on-year decline also.
It was a slightly more positive picture in the firm’s overall FX data, other FX volume rose by 3.4% month-on-month and 8.5% year-on-year to $267 billion. This meant that total FX volume fell 2.8% from November and rose 3.5% from December 2015.

Positives for Platforms in December Data

The first three platforms providers to report December average daily volume (ADV) data have experienced the expected slowdown in December from November, but have lifted year-on-year.
Bats’ Hotspot FX handled $25.5 billion per day in December, down 16.1% from November, but up 5.8% from December 2015.
Meanwhile FastMatchFX reports ADV of $13.8 billion, a 19% drop from November – a month characterised by volatility around the US election – but an impressive 45.3% increase from December 2015.
It was a generally positive picture at Gain GTX also, with the platform seeing its fourth busiest month of 2016 at $9.2 billion.