It seems this summer’s volatility is going to bring overall forex trading volume to record heights. Up until now most major brokers and liquidity providers/venues have reported higher volume than usual and we haven’t seen the August data yet. HotSpot too is reporting a record month in July which saw its volumes up almost 100% from the same month last year.
July 2011 had a busy start of the month at Hotspot FX, which set a new volume record on July 12, 2011 with over $110 billion transacted on the platform. As elsewhere, volumes slowed late in the month largely due to uncertainty over the US debt ceiling. July concluded with average daily volume of $62.1 billion and total volume of $1,304.4 billion.
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July 2011 Statistics:
- Hotspot FX posted an ADV of $62.1 billion. (based on 21 trading days)
- Record volume of $110.1 billion transacted on July 12, 2011 (surpassing prior record of $105.3 billion May 5, 2011)
- ADV decreased 9.7% versus June 2011 (June 2011 ADV: $66.6 Billion).
- Volume increased 88.8% versus July 2010.
- Total Volume: $1,304.4 billion.
* – note that HotSpot for some reason always double-counts the numbers so comparing to volumes of EBS and Reuters you need to halve HotSpot’s volume.