GAIN’s GTX and Fastmatch October Volumes Remain Solid, while Hotspot Drops

The institutional trading arm of GAIN Capital is continuing to post solid results this year.

The first day of November brings us the final tally for October trading volumes across major trading venues. Last month GAIN Capital’s GTX has been the most upbeat performer, with average daily volumes (ADVs) increasing. Fastmatch, which is partially owned by FXCM, retained a flat figure, while Hotspot trading volumes materially declined after the acquisition from the CBOE.

Volatility in October was ample, especially in the British pound pairs, where the ‘flash crash’ has generated sufficient momentum to make the pair the most traded for the month, according to data from Finance Magnates Intelligence.

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Fastmatch ADV Solid Despite Nominal Decline

Starting in alphabetical order, the trading volumes at Fastmatch have been reported by the company to come short of last month’s second best figure ever. The total volumes stood at $284.5 billion, which is lower by 5.5 percent when compared to September. Looking at a broader year-on-year comparison, the number was higher by 44 percent than in October 2015.

Looking at the average daily volumes for the first month of the fourth quarter the figure stood at $13.6 billion per day, which is only marginally lower than the previous month’s $13.7 billion. The number was 52.8 percent higher than last year’s metric for the month of October.

FastMatch Trading Volumes Chart, Source:Fastmatch

GAIN Capital’s GTX Continues Higher

GAIN Capital’s ECN and SEF October trading volumes have remained more or less flat when compared to September, with a modest decline of 2 percent month-on-month to $182.6 billion. The figure was higher by 38 percent when compared to the same month last year. After adding to the numbers the swap dealer facility of GAIN Capital, the total tally is just over $241 billion – a 5 percent monthly decline and a 35 percent increase when compared to October 2015.

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GAIN Capital GTX Trading Volumes

Average daily volumes in October at GAIN Capital’s GTX ECN & SEF trading venue were $8.7 billion daily, which is higher by 3 percent when compared to last month and represents the only monthly increase amongst major ECNs that are publicly reporting their data. Looking at the year-on-year comparison, the numbers were higher by 44 percent. GTX’ totals for October including the swap dealer facility amount to $11.5 billion daily, a figure which is also higher by 41 percent when compared to October 2015.

Hotspot’s figures in Decline Last Month

The foreign exchange trading venue which is part of BATS Global Markets, Hotspot, has registered a decline in trading volumes in October. The figures stood at $531 billion last month, which is a decline of 14.5 percent when compared to last month. The figure is about flat when compared to the same month last year.

Hotspot Trading Volumes, Source: Hotspot

Looking at the average daily volumes totals for last month, we are seeing an 11 percent decline to $25.2 billion. The number is still 5 percent higher year-on-year.

FXSpotStream Charges Higher

FXSpotStream has charged higheras trading activity increased during the month of October according to a company official announcement. The firm reported an increase in both total and average daily volumes during the month.

Looking at the monthly total, FXSpotStream’s metrics increased last month over 5 per cent to $359.2 billion. The Average daily volumes number for October 2016 was also higher. Coming in at $17.1 billion daily, the figure was up by 10.7 percent when compared to September and by 24.5 percent when compared to October 2015.

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