PrimeXM Reports Monthly Volume Above $900B Mark in February

Photo: Top 15 traded instruments at PrimeXM

PrimeXM has reported strong trading volumes for February, in line with other institutional and retail platforms that saw the activity of their clients was mostly upbeat last month.

The provider of FX bridge aggregation and institutional hosting solutions today revealed an average daily volume (ADV) of $45.49 billion, which is up 3 percent month-on-month from $44.16 billion, reported back in January.

Having hit $883.26 billion in January, total turnover at PrimeXM took another step forward in February, coming in at $909.89 billion, or 2.9 percent higher than it was in the previous month.

The highest daily trading volume of the month was recorded on February 1 with a $67.56 billion turnover. The total number of trades in February was 28.79 million, which was slightly higher than the 28.22 million in January.

Other business highlights show that PrimeXM’s Gold instrument, XAU/USD, saw a higher monthly turnover at $270 billion last month, which is an increase of 10 percent from a month earlier. The bullion activity saw a record $288.7 billion in monthly volumes back in August.

London Keeps a Grip on Trading Volumes

XAU/USD accounted for 30 percent of the overall traded volume. This was followed by major FX pairs EUR/USD and GBP/USD, which took 2nd and 3rd place with a combined trading volume of $261.6 billion.

EUR/USD took the top position among FX pairs in February (15 percent of all volume), and major US indices also picked up in volume due to volatility in stock markets.

In line with previous months’ metrics, LD4 was the strongest across its three major data center locations, with $680 billion worth of trades exchanging hands there, or 74 percent of the total monthly trading volume. This compares to $108 billion in New York and $121 billion in Tokyo.

PrimeXM has recently signed up FX and CFDs broker, Accuindex, which has gone live with its proprietary order routing service, the XCore.

XCore offers a low latency order routing and pricing ‎engine, giving Accuindex the opportunity to ‎connect to a wide range of liquidity providers.