Swiss-founded technology company PrimeXM, a provider of FX bridge aggregation and institutional hosting solutions, today, revealed strong metrics for average daily volumes, total monthly turnover, and a number of transactions.
During July 2020, PrimeXM reported an average daily volume (ADV) of $40.84 billion. This represented a jump of three percent month-on-month from $39.54 billion that was reported back in June.
Last month the total turnover at PrimeXM showed $939.35 billion in monthly trading volume, which was eight percent higher month-on-month from $869.77 billion for June 2020. Of this figure, trading on Gold instrument XAU/USD accounted for 23 percent or $217.5 billion of the overall traded volume. That also marks a substantial growth of 42 percent compared to June as the gold price has continued to reach new highs.
The total number of trades, however, decreased by nearly four percent on a monthly basis to 27.37 million transactions compared to 28.31 million for June.
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Other business highlights show that major FX pairs EUR/USD and GBP/USD remained as the most popular trading instruments with $169.3 billion and $123.6 billion in monthly turnover. This came in at only slightly behind the XAUUSD,
London LD4 was the strongest across its three major data center locations with 76 percent of trades that exchanged hands there. This arrived at more than $713 billion in notional value. The 2 other major Data Centers, TY3 and NY4, recorded a monthly trading volume of, $119.08 billion and $106.70 billion, respectively.
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. The Swiss-based technology company also offers a MetaTrader 5 Gateway low-latency connectivity to over 120 providers of forex and CFD liquidity.
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. These enable clients to house their trading systems and algorithms in co-location for their execution engine and liquidity providers.