KCG's October FX Volumes On The Up: $1.1bn Increase MoM
- KCG Holdings Interbank dealing platform division Hotspot FX has today released its figures for October 2013, which in congruence with the steady performance among interbank ECNs showed a $1.1 bn increase in ADVs.
These figures represent an increment of $1.1 billion in terms of average daily volumes when compared with last month's $28.7 billion, and signify an overall steady upward direction for Hotspot FX as the year heads into its final quarter, alongside similar performances across other participants within the interbank ECN segment such as those of Thomson Reuters and EBS, which has this week announced the launch of its commercial service.
October Volumes Overview
KCG Hotspot FX market share hit an all-time record high, accounting for 14.6% of publicly reported spot FX volume in October 2013. Month-over-month and year-over-year ADV grew by 3.7% and 30.9% respectively, with a total dollar-value volume of $684.4 billion for the month.
According to the firm, KCG Hotspot was the only reporting venue to post month-over-month and year-over-year growth, while all other venues saw a continuing decline.
Top 5 currency pairs remained unchanged from the prior month. EUR/USD saw the largest month-over-month percentage growth of +2.27%. AUD/JPY gained 4 spots, becoming the top 12th currency pair of the month. EUR/GBP declined by -1.24% from the previous month , while USD/JPY gained +0.35%. Lastly, EUR/CAD re-entered the top 20, replacing USD/TRY from September.
With Europe and North America producing an almost equal volume, Asia accounted for considerably less as depicted here:
A point of interest will be the impact on revenues and results the $128 million non-cash investment made by GETCO in KCG Holdings will have on future accounting periods.
Interbank Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term has recently been a matter for discussion among industry participants on the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates Meet The Experts Forum.
These figures represent an increment of $1.1 billion in terms of average daily volumes when compared with last month's $28.7 billion, and signify an overall steady upward direction for Hotspot FX as the year heads into its final quarter, alongside similar performances across other participants within the interbank ECN segment such as those of Thomson Reuters and EBS, which has this week announced the launch of its commercial service.
October Volumes Overview
KCG Hotspot FX market share hit an all-time record high, accounting for 14.6% of publicly reported spot FX volume in October 2013. Month-over-month and year-over-year ADV grew by 3.7% and 30.9% respectively, with a total dollar-value volume of $684.4 billion for the month.
According to the firm, KCG Hotspot was the only reporting venue to post month-over-month and year-over-year growth, while all other venues saw a continuing decline.
Top 5 currency pairs remained unchanged from the prior month. EUR/USD saw the largest month-over-month percentage growth of +2.27%. AUD/JPY gained 4 spots, becoming the top 12th currency pair of the month. EUR/GBP declined by -1.24% from the previous month , while USD/JPY gained +0.35%. Lastly, EUR/CAD re-entered the top 20, replacing USD/TRY from September.
With Europe and North America producing an almost equal volume, Asia accounted for considerably less as depicted here:
A point of interest will be the impact on revenues and results the $128 million non-cash investment made by GETCO in KCG Holdings will have on future accounting periods.
Interbank Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term has recently been a matter for discussion among industry participants on the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates Meet The Experts Forum.