FastMatch and Hotspot Trading Volumes Remain Solid in February

Both ECNs have reported solid volumes amid Japanese yen and euro volatility

Both of the leading real-time reporting Electronic Communications Networks (ECNs) for foreign exchange trading, FastMatch and Hotspot, have reported a solid month in February. Looking at the institutional side of the foreign exchange industry has always been a good indicator of the performance of retail brokers throughout the month, and February is no exception.

Despite a typically slower period of activity, this February has proven to be different to last year’s substantial decline in trading activity. From jitters about Deutsche Bank to the massive liquidation of Japanese yen short positions, traders have actively engaged in trading during the second month of 2016.

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Hotspot Trading Volumes
Hotspot Trading Volumes, Jan 2015 – Feb 2016, Source: Hotspot

Looking at Hotspot, the trading venue owned by BATS Global Markets has reported that trading volumes increased by 11.5 per cent in nominal terms to $684.3 billion, while average daily trading volumes increased more modestly by 6.1 per cent to $32.6 billion per day. The figures are also comparable to last year’s numbers, which were still affected substantially by the Swiss franc debacle on January 15th 2015.

Hotspot’s February nominal volumes were higher by 30 per cent when compared to last year, whilst the average daily figure was higher by 24 per cent.

FastMatch, where FXCM holds a substantial share amounting to about one third of the venue, is another ECN which reported solid figures during the month of February. After a record January, February’s nominal figure declined only modestly by 1.2 per cent to $233.7 billion. On an average daily volume basis the number was lower by 6 per cent to $11.1 billion per day.

FastMatch Trading Volumes, Jan 2015 - Feb 2016, Source: FastMatch
FastMatch Trading Volumes, Jan 2015 – Feb 2016, Source: FastMatch
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