The biggest FX broker in Russia and the entire CIS, Alpari Russia, has just reported its monthly trading volumes for November 2016, which took a step forward, ultimately paring the last month’s slight decrease, according to a corporate statement.
During the last month of autumn, Alpari disclosed that a total of $89.4 billion was traded, which represents a move higher over a monthly timeframe, as volumes jumped 3.8% MoM from $86.1 billion back in October 2016. Indeed, November’s volumes are not a long way off from the company’s peak of $91.8 billion set back in April 2016.
In addition, the latest figures orchestrated a rise of 2.1% YoY compared to $87.5 billion November 2015.
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In connection with the increased volatility of the Japanese yen and the euro in recent weeks, trading on EUR/USD and USD/JPY instruments enjoyed far greater popularity among Alpari’s clients in the month prior.
The renewed rebound off October’s lower volumes highlights the fact that the broker has been able to capitalise on the healthy bouts of volatility that have been rocking financial markets. In a similar vein, trading volumes in November have soared almost universally across all major brokers in the industry on heightened volatility following Donald Trump’s shock victory in the US presidential election.
Earlier in November, Finance Magnates reported on Alpari after its Russian subsidiary, Alpari Forex LTD, has received regulatory approval from the nation’s central bank to be officially authorized to operate in Russia pending some legislative requirements.