Fastmatch, the fastest growing Electronic Communications Network (ECN) for trading foreign exchange in 2016, has reported a sharp decline in monthly volumes in December. The final month of last year was heavily affected by a number of holidays including Christmas, New Year and Hanukkah.
Fastmatch made its offering very competitive last year, a step that permitted the company to solidify its position on the market after a post-SNB stress. The company emerged from the biggest challenge in the industry much stronger, registering a year of massive growth in 2016.
The total monthly figure transacted via Fastmatch’s infrastructure was $290.1 billion in the final month of 2016, a number that is lower by 23 percent month-on-month and higher by 39 percent when compared to December 2015.
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Average Daily Volumes (ADVs) have been even more volatile due to December holidays. The figure totaled $13.8 billion with the lowest number of transactions being registered on the 23rd and on the 27th of December. Looking on a comparative basis, Fastmatch’s number increased over 46 percent when compared to the final month of 2015 and declined by 19 percent when compared to November 2014.
Trading executed via Fastmatch reached a record $3.29 trillion in 2016, a figure which is higher by 52 percent when compared to 2015’s $2.16 trillion.
Trading in 2017 is likely to continue on a bullish note. One of the major themes in the industry throughout last year was FX volatility, and this year is likely to be one of the best for the industry, especially if we see a timely reform of the Dodd-Frank Act from Donald Trump’s administration.