LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Following a fairly slow April, FX brokerage group GAIN Capital Holdings Inc (NYSE:GCAP) saw a healthy uptick in activity in May.
Retail FX volumes were up by 9% MoM to $243.3 billion at the company’s FOREX.com and City Index brands, or $11.1 billion in average daily volumes.
Institutional volumes at GAIN’s GTX brand soared by 38% over April, to a record $385.5 billion. At the end of May, GAIN announced that it was exiting the Institutional FX business, coming to an agreement to sell GTX to Deutsche Boerse’s 360T fot $100 million. LeapRate also exclusively reported that GAIN Capital has shuttered its international money transfer business, originally launched under the brand ForeignExchange.com, deciding to focus its energy and resources on its core Retail FX operation.
The complete report for May 2018 can be seen here.