Institutional trading platform provider Integral on Tuesday reported its monthly trading volumes for November 2018, which took another step forward, ultimately adding to its recent strong performance, according to a corporate statement.
During the last month of autumn, Integral disclosed that a total of $38.3 billion was traded, which represents a move higher over a monthly timeframe, as volumes jumped 10.7 percent month-over-month from the figure reported back in October 2018.
In addition, the latest figures are a rise of 9.4 percent year-over-year compared to November 2017.
“No other platform reaches as many, as varied, and as comprehensive a set of FX products and participants as Integral OCXTM. Banks, brokers, and asset managers now share direct access to OCX and use this unique liquidity to win market share from their competitors,” the company said.
World's Biggest Vessel Opens Gates for 2019 Coinsbank Blockchain CruiseGo to article >>
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.
Tending to the Recent Surge in Demand for Cryptocurrencies
Since the deployment of the platform in 2015, Integral has been working on several enhancements which bring major changes for existing clients that use the OCX, and which could also attract new customers.
The Silicon Valley-based announced last month that it is beginning a co-operation with a cryptocurrency exchange called Mint Exchange. The crypto venue has licensed a trading terminal powered by Integral to help launch its “institutional grade cryptocurrency exchange.”
Integral has 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 this year, it expanded its crypto offering to include 14 different virtual coins, linking 16 crypto exchanges from around the world.