Looks like it will be a June to remember for eFX trading platforms.
The latest institutional FX platform to report great June numbers is FastMatch, which saw volumes rise 44% MoM over May to average $16.3 billion for the month. FastMatch’s previous best month was November 2014 at $12.2 billion.
June volumes at FastMatch were helped by the one-day record of $39.8 billion in trades seen on Brexit Friday.
Other results we have seen so far for June from Hotspot FX and Gain Capital’s GTX division indicate a healthy rise in eFX trading volumes in the 20-25% range.
FastMatch is jointly owned by retail forex broker FXCM Inc (NYSE:FXCM) and commercial banks Credit Suisse and BNY Mellon.