Forex ECN FastMatch is reporting that volumes in its system decreased slightly during February, by 2% MoM, to average $16.6 billion ADV for the month.
Still, February 2017 clocks in as one of the best months ever at FastMatch, behind only January and last November’s US election driven record result of $17.1 billion ADV.
We’d also note that FastMatch yesterday unveiled its new company website, a lot more visually-oriented than the old one.
FastMatch is jointly owned by retail forex broker FXCM – now formally known as Global Brokerage Inc (NASDAQ:GLBR) – and commercial banks Credit Suisse Group AG (ADR) (NYSE:CS) and BNY Mellon Corp (NYSE:BK). FXCM has been active monetizing assets to pay down its high interest loan from Leucadia National Corp (NYSE:LUK) – most recently selling its DailyFX research and news site to IG Group Holdings plc (LON:IGG) for $40 million, and its US clients to rival Gain Capital Holdings Inc (NYSE:GCAP). We believe that FXCM’s stake in FastMatch may be next on the block.