FXSpotStream, which provides a multibank FX aggregation service for spot FX trading, released its monthly metrics for June 2021. It highlighted that the Average Daily Volume (ADV) was $49.01 billion for June, which was up 3.7% on a month-over-month basis, representing a yearly increase of 13.5%. In addition, the total trading volume was $1.08 trillion for the month, which surpassed the figure recorded in May of $994 billion.
In the same period last year, the total trading volume was $952 billion, and its ADV was 43.28 billion, which represented a positive monthly change of 19.9%, while its yearly reading at that time stood at 2.4% for 22 trading days.
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For the last month, as Finance Magnates reported, the total volume for the company in May stood at nearly $994 billion for 21 trading days, meaning an ADV change of 31.1% year-over-year. Compared with April, the total volume accounted for $1.071 trillion implying an average daily volume change of 43.4% year-over-year.
Despite the yearly dip seen in March, the total trading volume on FXSpotStream for that month, with more than $1.25 trillion, remained the second-highest in its operational history. The revenue number showed the demand from all streaming and matching products. In January, FXSpotStream announced the addition of FX Algo strategies onto its portfolio, along with FX Allocation services, which will be offered via its API from the second quarter of this year. The platform aimed to add over 70 different Algos and more than 200 parameters provided by the liquidity providers accessed by the FXSpotStream client base.
Established in 2011, FXSpotStream is a bank-owned consortium. Along with its services in the spot forex market, the platform has extended its services in the derivatives market. Furthermore, the company recently hired Ross Smith as a legal consultant. Smith is a legal expert with two decades of experience working at several firms, handling their legal matters.