Fastmatch, the fastest growing electronic communications network (ECNs) in the industry, has reported its trading volumes numbers for the month of November. The company registered a record month with the firm’s numbers more than doubling when compared to the same month last year.
The electronic communications network has been steadily growing throughout 2016. Its November monthly total was $376.6 billion. The figure marks a 32 percent rise when compared to last month and an unprecedented 113 percent increase when compared to last year.
Looking at the average daily volumes (ADVs), the monthly and yearly growth numbers were not much different. The firm’s ADV for November was reported at $17.1 billion daily, which was 25 percent higher than in October and 103 percent higher when compared to November 2015.
Overall the continuing development by Fastmatch is a result of the company’s fully staffed London and New York offices, where the company’s teams have been fully assembled and actively working on expanding the firm’s footprint on the foreign exchange market.
Fastmatch has committed to a substantial effort to boost the company’s team and the company’s offering throughout the past year and the results are in after the first burst of the U.S. election pocket of volatility which, outside of the GBP pairs, has proven to be a bigger catalyst for FX moves than the Brexit.