For the first month of the second quarter (Q2), April 2016, Alpari has today reported trading turnover of $91.8b billion, up from $88.1b reported for March, according to the company’s website update translated from Russian.
The month-over-month (MoM) rise of 4% or $3.7b worth of trading, shows a modest increase for the start of Q2 for Alpari as it edges towards the $100b mark. In addition, the rise above $90b is in line with the company’s 2015 monthly average.
The company noted that the amount of trading in the most popular of its currency pairs – the EUR/USD pair – remained at the same level of the prior month, and versus the 7% rise in the same pair seen in March when compared to February.
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The overall rise in volumes in April, compared to the prior month, was largely driven by increases in GBP/USD and USD/JPY related products, which were up 22% and 48% respectively, according to the update.
Alpari also highlighted news regarding its sponsorship of Chess Grandmaster Sergey Karjakin, as aspects of trading can be paralleled to chess strategy with such methodological and tactical approaches to markets. Sergey also qualified to contend Magnus Carlsen for his title of world chess champion.
While March’s volumes were little-changed compared to February, April saw a more modest improvement compared to the prior month – indicating that trading had picked up for the start of Q2 at Alpari. In related news, Alpari announced the activation of hedging in its MT5 platform earlier today.