Fastmatch Volumes Surge to Record on Thursday, Only to Retreat to Year Low
- After achieving a record high in trading volumes last Thursday, activity declined quickly on Friday on Fastmatch. The volume contraction may have been due to the platform's connection to FXCM.
Reacting to volatility in the Swiss franc and euro, volumes on Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term order matching system Fastmatch surged to a record last Thursday. During the session, $24.4 billion in volume was traded, led by activity in the EURUSD and EURCHF. Fastmatch operates separate operating matching engines in London, New York and Tokyo. Volumes on Thursday were led by London with $17.1 billion traded, followed by $6.8 billion and $0.54 billion at New York and Tokyo respectively.
Fastmatch Daily Volumes (source:Fastmatch.com)
Worth noting was the steep fall in volume that took place on Friday with only $4.87 billion reported to have been traded on the Fastmatch platform. Friday trading will typically underperform that of the rest of the week. However, the activity on Fastmatch contrasts to Hotspot which saw volumes only recede 20.9% from $61.7 billion on Thursday to $46.9 billion. For Fastmatch, Friday’s trading was their lowest Friday session of this month, even falling below January 2nd’s holiday session of $6.7 billion in volume.
As such, the drop in activity at Fastmatch may have been related to participants avoiding the platform as embattled broker FXCM owns a large minority stake in the firm. Regarding the FXCM ownership, Fastmatch CEO Dmitri Galinov commented publicly on LinkedIn about the platform achieving a record on Thursday, but also mentioned that the firm has been asked about “FXCM’s continuing operations related to volatile markets.” On this he forwarded readers to FXCM’s news of new Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term of $300 million from Leucadia National Corporation. Therefore, it will be interesting to watch this week whether participants return to the venue or if negative sentiment from FXCM continues to overshadow trading on Fastmatch.
Reacting to volatility in the Swiss franc and euro, volumes on Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term order matching system Fastmatch surged to a record last Thursday. During the session, $24.4 billion in volume was traded, led by activity in the EURUSD and EURCHF. Fastmatch operates separate operating matching engines in London, New York and Tokyo. Volumes on Thursday were led by London with $17.1 billion traded, followed by $6.8 billion and $0.54 billion at New York and Tokyo respectively.
Fastmatch Daily Volumes (source:Fastmatch.com)
Worth noting was the steep fall in volume that took place on Friday with only $4.87 billion reported to have been traded on the Fastmatch platform. Friday trading will typically underperform that of the rest of the week. However, the activity on Fastmatch contrasts to Hotspot which saw volumes only recede 20.9% from $61.7 billion on Thursday to $46.9 billion. For Fastmatch, Friday’s trading was their lowest Friday session of this month, even falling below January 2nd’s holiday session of $6.7 billion in volume.
As such, the drop in activity at Fastmatch may have been related to participants avoiding the platform as embattled broker FXCM owns a large minority stake in the firm. Regarding the FXCM ownership, Fastmatch CEO Dmitri Galinov commented publicly on LinkedIn about the platform achieving a record on Thursday, but also mentioned that the firm has been asked about “FXCM’s continuing operations related to volatile markets.” On this he forwarded readers to FXCM’s news of new Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term of $300 million from Leucadia National Corporation. Therefore, it will be interesting to watch this week whether participants return to the venue or if negative sentiment from FXCM continues to overshadow trading on Fastmatch.