FXCM August Volumes in the Green, Institutional Volumes Jump 320% YoY
FXCM has reported strong trading metrics for the month of August. Volumes were up significantly from a year earlier, however
Leading FX and CFD specialist, FXCM, has reported its trading activity for August. The NYSE listed firm, saw volumes dip on a month on month basis, however, the broker saw remarkable growth in its institutional focused product from figures reported a year earlier. In the retail market, FXCM saw monthly trading volumes reach $307 billion in August, with daily average volumes reach $14.0 billion. In the institutional market, the firm traded $210 billion for the month, with a daily average of $9.5 billion.
FXCM (FXCM:N) shares closed at 19.66-0.04 (-0.20%) today.
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August 2013, Retail Trading Metrics
- Retail customer trading volume (1) of $307 billion in August 2013, 21% lower than July 2013 and 13% higher than August 2012.
- Average retail customer trading volume per day of $14.0 billion in August 2013, 17% lower than July 2013 and 19% higher than August 2012.
- An average of 411,498 retail client trades per day, in August 2013, 10% lower than July 2013 and 28% higher than August 2012.
- Tradable accounts of 185,123 as of August 31, 2013, a decrease of 9,396 accounts, or 5% from July 2013, and a decrease of 22,537 accounts, or 11% from August 2012.
Institutional Trading Metrics
- Institutional customer trading volume of $210 billion in August 2013, 14% higher than July 2013, and 320% higher than August 2012.
- Average institutional trading volume per day of $9.5 billion in August 2013, 19% higher than July 2013 and 332% higher than August 2012.
- An average of 56,926 institutional client trades per day in August 2013, 29% higher than July 2013 and 861% higher than August 2012.
FXCM has been growing its institutional product as it positions itself as a strong player in the segment, two major initiatives include its partnership with Credit Suisse, to launch FastMatch an FX ECN and its purchase of Lucid Markets.
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What does FXCM consider institutional? Is it just trading on specific platforms? With an average trade size of $167K, it doesn’t look that different than retail.
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It would be interesting if the growth in the institutional segment comes from Lucid or Fastmach, and if the latter, what kind of new clients they are getting traction with.
Ron, wouldn’t a more accurate measure be an cumulative daily/monthly/quarterly/yearly volume instead of average? It is the total volume that tells us how much was actually traded, right?
I agree completely with Juan. It is very important to have a trading environment which is tailored to the requirements of your individual strategy or system. You should therefore be looking for a broker that understands your needs and has the flexibility to deliver a product that is appropriate for them.