Institutional FX: Integral Volumes Rise, FXSpotStream Steps Back

FXSpotStream reported an ADV of $37.34 billion, down -13.7% from August record of $43.2 billion.

Activity on FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, dropped in September as average daily trading volumes took a step back from the record figures it printed the month prior.

During September 2019, FXSpotStream reported an average daily volume (ADV) of $37.34 billion. The number moved lower on a monthly basis by 13.7 percent from $43.2 billion back in August 2019, when volumes shot up to a new all-time high. This figure, however, reflects a year-on-year increase of 17 percent compared with $31.8 billion in September 2018.

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Meanwhile, FXSpotStream saw a slump across its total trading volumes in September 2019 after reported $784 billion for the month, sharply down from $951 billion hit back in August 2019.

The company’s trading facilities were open on 21 trading days, which is one day less than the prior month.

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Integral posts solid volumes

Elsewhere, currency trading on Integral’s trading platforms rose more than ten percent in September from a year earlier as increased volatility across financial markets led to greater activity on the institutional FX venue, the company said.

Average daily volumes topped $37.3 billion last month, which is up 10.4 percent compared with the figures from the year before and was also up eight percent relative to August 2019.

Overall, 2019 volumes were above those reached earlier this year after volatility jumped from multi-year lows, surprising investors and encouraging more trading.

Integral’s Open Currency Exchange (OCX) brings a wide spectrum of FX market participants into a single integrated network of liquidity, where they can trade with each other.

Clients of the OCX pay a monthly fee for access to the exchange, instead of per-trade fees. While it initially launched with a monthly subscription cost of $275, it was soon lowered to $2.75 per million to accommodate the trading volume of each user, rather than imposing an even charge to clients of all sizes.

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