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Screenshot of a breaking news alert e-mail from Q2 2017
After setting two consecutive trading volume records in January and February, and then a slowdown in March and April, data from institutional Forex ECN Cboe FX Markets – formerly known as Hotspot FX – indicates that the company saw a marked improvement in activity during May.
Cboe FX reported trading volumes of $40.9 billion ADV during May 2018, up 13% from April. May’s result was Cboe FX / Hotspot’s third best ever month, and also just the third time the ECN topped $40 billion in average daily volumes.
By product, the most-traded pair at Cboe FX in May 2018 was EURUSD at 27.7% of total trading. USDJPY at 12.6%, GBPUSD at 8.1%, AUDUSD at 7.4%, and USDCAD at 6.5% of total were next in line.
It has been just over a year since Hotspot FX began operating under the corporate umbrella of its new owner, CBOE Holdings Inc. (NASDAQ:CBOE). CBOE acquired control of Hotspot FX via its $3.2 billion takeover of Bats Global Markets Inc at the end of February 2017. CBOE initially rebranded its Forex ECN unit as: Hotspot – a CBOE company. And now, as noted above, it has been re-rebranded as Cboe FX Markets, with the ‘Hotspot’ brand being phased out.