The FX technology company, Integral reported a record increase in its November volumes. The company announced that the total average daily volumes (ADV) last month touched $47.8 billion, an increase of 9.1% compared to October 2020.
According to the official press release shared with Finance Magnates, the volumes in November represent a 40.6% increase compared to the same period in 2019. The reported numbers include volumes traded across the group’s entire liquidity network, including TrueFXTM and Integral OCXTM, in aggregate.
The US-based company reported a strong month on the back of solid performance in October this year when the technology provider reported $43.8 billion in ADV, a 6.8% jump compared to September 2020. Integral also reported that TrueFX has been particularly beneficial for the company recently because of high adoption and low-cost offerings.
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Commenting about the success of TrueFX, Harpal Sandhu, CEO at Integral, said: “TrueFX has made it possible for any participant irrespective of size to access primary sources of liquidity directly. The proposition of eliminating credit as a barrier to entry is an exciting development in FX, and we are thrilled to see such high adoption of the service as participants seek increased accessibility to the markets in an organized, transparent, and low-cost manner.”
In addition to the consistent growth in ADV, Integral has been able to extend partnerships with some of the leading names in the FX industry. Finance Magnates earlier reported about the extension of the partnership between Integral and Switzerland-based online trading platform, Swissquote through a multi-year subscription deal. The company also extended its multi-year FX collaboration with Refinitiv.
Founded in 1993, Integral has sales offices in Palo Alto, New York, London, Tokyo, Singapore and Bangalore, according to the details provided by the company. Integral presents TrueFX as an accessible, low-cost, spot trading facility delivered by Integral technology, centrally cleared by Jefferies FX Prime Brokerage and supported by a network of TrueFX clearing members.