Breaking: FXPRIMUS October Volumes Retreat -8% MoM to $36.77Bln

Mauritius-based FXPRIMUS Ltd has reported its October 2014 metrics, having yielded client transaction volumes of $36.77B, which represents a slight

fxprimMauritius-based FXPRIMUS Ltd has reported its October 2014 metrics, having yielded client transaction volumes of $36.77Bln, which represents a slight reversal from September’s record figures.

FXPRIMUS revealed soaring volumes last month to the tune of $40.02Bln in notational client transactions. Since then, the figures have fallen -8% MoM to October’s $36.77Bln.

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However, across a yearly timeframe, FXPRIMUS has still secured a robust 109% gain in client volumes YoY from October 2013. In addition, total client deposits totaled $9.837Mln, with newly funded accounts advancing by 1,377 – this corresponded to a growth of 74% and 101% respectively.

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According to Terry Thompson, President of FXPRIMUS, in a recent statement on the metrics, “It was nice to see a carryover from client participation from September. The market broke out of some key ranges, and the volatility continued to tick higher. What caught our attention as well was the volatility was not just limited to FX, as Metals & our CFD offerings joined in the market movements. We feel we are one of the key liquidity providers in Gold & Oil at this point in the retail space and are seeing more and more client participation in these instruments.”

“We have well over 10,000 client accounts with a balance of $100 or more, so we’re in a great position to see the volumes when the market moves like it has been. Our key market continues to be Asia, but recently have been making a concerted move into the Middle East & parts of Europe. We feel it’s necessary to lower our geographical risk as much as possible, as areas go hot and cold at different times, so it’s best to be well diversified in terms of client acquisitions,” added Thompson.

Indeed, “I’m excited about recent improvements we’ve made to our infrastructure to accommodate the significant increase in volume, having tapped into the robust Equinix network. This provides clients with sub-millisecond execution from anywhere in the world, and the feedback so far has been overwhelmingly positive. Lastly, I’m happy to report we paid out well over $500,000 in rebates to our valued Introducing Brokers and Affiliates in October, which was an all-time high for the firm. As noted previously, I feel we have some of the best IBs in the market, and it’s a pleasure compensating them for their hard work, and helping us to continue to grow,” reiterated Thompson.

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