PrimeXM Monthly Turnover Rebounds in September, Gold Volume Lags

PrimeXM clients transacted a total of $936.97 billion last month, up 8% from $868.08 billion back in August.

Swiss-founded technology company, PrimeXM, a provider of FX bridge aggregation and institutional hosting solutions, saw a strong rebound in its aggregated trading volumes for September 2020, which came off multi-month lows it hit in the prior month. However, with trading volatility in the bullion markets seemingly hard to come by heading into the last quarter of the year, gold volumes failed to best its September equivalent.

In particular, PrimeXM clients transacted a total of $936.97 billion last month, which represents an 8 percent increase month-over-month when compared to $868.08 billion back in August. This was the best figure for monthly volumes since it hit the $1.15 trillion milestone in March and $939.35 billion in July.

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In terms of its average daily volume (ADV), PrimeXM reported $42.59 billion. This represented a jump of 3 percent month-on-month from $41.33 billion that was reported the previous month. The highest daily trading volume of the month was recorded on September 21 with a $60.68 billion turnovers.

Other Business Highlights

However, the total number of trades rose by nearly 12 percent on a monthly basis to 27.29 million transactions compared to 24.25 million for August.

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Other business highlights show that PrimeXM’s Gold instrument, XAU/USD, saw its monthly turnover falling by 15 percent to $246.5 billion from a record $288.7 billion hit a month earlier. August’s figure was the highest point of activity for the yellow metal so far in 2020.

EUR/USD was still the most popular FX pair being traded with $175.1 billion, more than 18% of overall volume in September.

In line with previous months’ metrics, LD4 was the strongest across its three major data center locations, with $705 billion worth of trades exchanging hands there, or 75% of the total monthly trading volume. This compares to $111.41 billion in New York and $120.71 billion in Tokyo.

Founded in 2010, PrimeXM’s key business focus is providing aggregation software, low-latency connectivity, hosting solutions, and high-end MT4/MT5 bridging and white labels. In addition to their primary product XCore, PrimeXM offers hosting services in the most popular data centers used by the FX industry, such as Equinix LD4, NY4, and TY3. This enables clients to house their trading systems and algos in co-location to their execution engine and liquidity providers.

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