The first batch of platform volumes
reported by FastMatch, Gain GTX and Hotspot indicate a sharp drop in activity
Bats Hotspot reports average daily volume
(ADV) of $25.5 billion in March, down 21.75% month-on-month and down 19.5% year-on-year.
It was a similar picture at Gain Capital
where Gain GTX reported ADV of $7.4 billion per day for its ECN. This
is a 12% drop from February and down 19.1% from March 2015.
The ADV for Gain Capital’s registered swap dealer was $2.8 billion in March, down 8.2% from the previous month and down 33.6% year-on-year.
Meanwhile, FastMatch reports ADV of $10.1
billion, down 9.8% month-on-month but up 23.2% year-on-year – in March 2015,
FastMatch’s volumes were subdued by fears over the company’s future (now
resolved) as one of its owners, FXCM, struggled for survival post-SNB.
Colin_lambert@profit-loss.com Twitter @lamboPnl @Profit_and_Loss