FastMatch, the FX trading venue of Euronext, has reported its monthly volume numbers for February.
The numbers initially appear to have declined from the first month of the year, as the release shows total monthly volume at roughly $422.3 billion, which is down 7.6% from January levels of $457 billion. However, ADV still improved by 1.4% from January’s $20.8 billion to $21.1 billion in February.
The true indicator of FastMatch’s volume performance is the YoY comparison. February’s $422.3 billion in trading volume represents an increase of 27.3% YoY, relative to February 2017’s volumes of $331.7 billion.
Incidentally, ADV improved by the same percentage YoY, from February of last year, when ADV was released at $16.6 billion.
Euronext’s Acquisition of FastMatch
Euronext acquired FastMatch in May of last year, when it initially purchased a 90% stake in the company for $153 million.
Since the acquisition, Euronext has attempted to use its global reach to take the company to the next level. During the second half of last year, FastMatch contributed a total of €7.2 million in revenues to Euronext’s bottom line, aided by Q4 revenues which reached €4.3 million.
FastMatch Offers Access to Data
Meanwhile, FastMatch is leveraging the capabilities of its new ownership, in an effort to provide new and innovative solutions and products to clients. In November of last year, FastMatch began selling access to real-time FX market data. The company is charging an affordable €40 per month for access to the data, which is available on a 15-minute delay.
The data can also be used as a central reference point for spot FX rates, making the price of the service quite attractive, considering the many applications it could be used for. The data had long been at the disposal of FastMatch, although the company only recently decided to package it as a sellable product.