Integral Also Grapples with Weak FX Volumes in November

Integral disclosed that a total ADV of $34 billion was traded, which was lower by 6.6 percent MoM.

Institutional trading platform provider Integral reported its monthly ‎trading volumes for November 2019, which declined from a month earlier as weaker volatility across financial markets hit activity on institutional FX venues.

During November 2019, Integral disclosed that a total ADV of $34 billion was traded, which was lower by 6.6 percent over a monthly timeframe, compared to $36.4 billion reported back in October 2019.

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In addition, November volumes were below those reached in the same month a year ago when the company integrated a slew of new buy-side systems into Integral’s OCX ECN, encouraging more trading across all transaction types, including spot, forwards, and swaps.

Specifically, the latest figures reflect an 11.2 percent decrease when weighed against $38.3 billion reported back in November 2018.

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Other platforms also grapple with lower FX volumes

Euronext’s FX trading venue, which is also a big player in the foreign exchange market, reported a 27 percent decline in average volumes last month. It reported $313 billion had changed hands during November 2019, compared to $429 billion reported back in October 2019. FXSpotStream’s trading platform also revealed earlier this week that its trading volumes were just $650 billion for the month, down from $767 ‎billion in the prior month.

Since the deployment of the platform in 2015, the Silicon Valley-based company has been working on several enhancements which bring major changes for existing clients that use the OCX, and could also attract new customers.

Integral has recently made a push into the FX prime brokerage space with the launch of TrueFX, in partnership with Jefferies FXPB. The centrally-cleared venue caters to retail brokers, macro hedge funds, prime of primes, and also regional banks. It enables them to connect to all relevant liquidity venues through a single point of credit intermediation and technology integration.

Integral has also been tending to the recent surge in demand for cryptocurrencies. The financial technology company initially integrated a handful of the world’s leading digital currencies into its OCX trading platform in late 2017. And earlier last year, it expanded its crypto offering to include 14 different virtual coins, linking 16 crypto exchanges from around the world.

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