PrimeXM Starts 2021 with 34% YoY Trading Volume Jump

Thursday, 10/02/2022 | 07:06 GMT by Arnab Shome
  • The ADV for January came in at $56.49 billion.
  • XAUUSD was the most traded instrument.
PrimeXM
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PrimeXM, a provider of forex trading technologies, released its metrics for January 2022, reporting a total monthly trading volume of $1.19 trillion and thus closing another month above the $1 trillion mark.

Trading demand handled by the platform’s 4 data centers also increased significantly. January’s total volume jumped by 13 percent from the cyclical dip in the previous month and a solid 34 percent growth year-over-year.

As always, the London data center , LD4, handled most of the trades with $923.07 billion in notional trading volume, which was 8.35 percent higher than the previous month. Tokyo remained in the second position, handling $143.10 billion, while the New York data center processed $118.20 billion worth of trades.

The Singapore data center, which PrimeXM deployed in July 2021, is still in its infancy stage and handled trade volumes worth only $1.85 billion, but the figure is steadily growing.

Strong ADV

The average daily volume (ADV) on the platform came in at $56.49 billion for the month, which is a 23.73 percent increase month-over-month and 4.44 percent year-over-year. The total number of trades executed on the platform was 32.48 million, which is 15 percent higher compared to the last year’s figure.

Coming to the products, XAUUSD remained the traders’ favorite with $304.4 billion in notional value traded with this instrument alone. That was 25.65 percent of all the volume of that month. The US30 instrument stood second with 14.18 percent of all demand and $168.2 billion in absolute volume followed by the EURUSD pair with $151.8 billion.

PrimeXM, a provider of forex trading technologies, released its metrics for January 2022, reporting a total monthly trading volume of $1.19 trillion and thus closing another month above the $1 trillion mark.

Trading demand handled by the platform’s 4 data centers also increased significantly. January’s total volume jumped by 13 percent from the cyclical dip in the previous month and a solid 34 percent growth year-over-year.

As always, the London data center , LD4, handled most of the trades with $923.07 billion in notional trading volume, which was 8.35 percent higher than the previous month. Tokyo remained in the second position, handling $143.10 billion, while the New York data center processed $118.20 billion worth of trades.

The Singapore data center, which PrimeXM deployed in July 2021, is still in its infancy stage and handled trade volumes worth only $1.85 billion, but the figure is steadily growing.

Strong ADV

The average daily volume (ADV) on the platform came in at $56.49 billion for the month, which is a 23.73 percent increase month-over-month and 4.44 percent year-over-year. The total number of trades executed on the platform was 32.48 million, which is 15 percent higher compared to the last year’s figure.

Coming to the products, XAUUSD remained the traders’ favorite with $304.4 billion in notional value traded with this instrument alone. That was 25.65 percent of all the volume of that month. The US30 instrument stood second with 14.18 percent of all demand and $168.2 billion in absolute volume followed by the EURUSD pair with $151.8 billion.

About the Author: Arnab Shome
Arnab Shome
  • 6365 Articles
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6365 Articles
  • 80 Followers

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