FXSpotStream, the aggregator service of LiquidityMatch and a major institutional platform in the FX market, has posted its trading volume numbers for September, showing a significant jump in monthly numbers and average daily volume (ADV) as well.
The forex trading venue saw total trades worth over $961.4 billion in September, compared to $864.4 billion in the previous month. That was a month-on-month jump of more than 11 percent.
That resulted in an ADV of $43.7 billion for the month, a jump of 6.2 percent from the previous month. Year-on-year, that was an increase of 17 percent. Additionally, the platform highlighted that it was the third-highest ADV it recorded so far.
Similar to other platforms, FXSpotStream saw a massive demand in March due to the effect of Coronavirus on financial markets. That month, the trading platform recorded a total volume of $1.37 trillion, the highest since its establishment.
The Rising Star of the DeFi Project, GIBXSwap, Passes CertiK Security AuditGo to article >>
Despite the heavy correction in the market from that massive spike, FXSpotStream is again seeing a healthy uptrend. Indeed, the platform’s ADV was above $40 billion for the past four consecutive months.
Other institutional and retail brokerages are also reporting a similar trend after their volumes slumped post-March.
Growing Team and Offerings
Meanwhile, the US-based platform is strengthening its sales team with two key hires, Hajime Tezuka and Rhys Bryan, Finance Magnates reported in August. The company additionally appointed Richard Kaltenbach as its General Counsel.