Institutional Forex ECN Hotspot FX has reported that March trading volumes increased by 10% MoM over February, clocking in at $29.7 billion average daily volume for the month.
That also makes March Hotspot’s second-best volumes month over the past year-plus, behind only November 2016’s $30.4 billion, which was driven by high market volatility around the time of the US election.
Hotspot’s March figures begin a parade of what we believe will be strong volume reports in the FX sector, following what was a fairly weak February, at many of the leading retail and institutional eFX venues.
March 2017 also marks the first month that Hotspot FX was operating under the corporate umbrella of its new owner, CBOE Holdings Inc. (NASDAQ:CBOE). CBOE completed yesterday its $3.2 billion takeover of Bats Global Markets Inc at the end of February. CBOE wasted no time in rebranding its Forex ECN unit as: Hotspot – a CBOE company.