International Capital Markets, an Australian-based ECN foreign exchange provider, today reported record trading volumes of 188 billion USD for the month of November. The total includes $16.5 billion which was accountable for on 8th November, when the US election took place.
Record November Volumes
In a statement issued by the brokerage today, it was revealed that the main driver for the record volumes was the company’s strong domestic growth and an uptick in volatility. Drawing from industry research by Finance Magnates, ICM stated that the reported monthly volume makes IC Markets the largest Australian owned and operated entity and positions the company on the cusp of the top five global brokers.
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Commenting on the positive results, IC Markets Managing Director, Andrew Budzinski, said: “2016 has been the biggest year on record for the company. Closing out the year on record volumes is testament that our strategy of focusing on the domestic market and customer service is paying off.”
ASIC-regulated IC Markets ranks amongst Australia’s largest providers, offering true ECN forex technology, proprietary tools and services. Founded in 2007, the company sought to bridge the gap between retail and institutional clients, now offering a trading solution previously only available to investment banks and high net worth individuals.
Andrew Ralich, CEO of oneZero Financial, the company’s primary execution and connectivity provider, said: “The volumes that we see today through ICM’s oneZero Hub are a testament to their commitment to focusing on quality liquidity, execution and client relationship management. We are looking forward to continuing to work side-by-side with Andrew and his team to support another year of expansion in 2017.”