After a very slow September, data from Forex ECN FastMatch indicates that October 2018 saw a modest 3% increase in trading activity, with FX trading volumes coming in at $19.2 billion ADV, versus $18.6 billion ADV the previous month. We’d note that September was the slowest month of 2018 for FastMatch, and volumes remain well below the $20-22 billion ADV level that they were at for FastMatch during most of the first few months of the year.
FastMatch recently saw controlling shareholder Euronext increased its stake in the company to 97.3% after buying out ex CEO Dmitri Galinov. Mr. Galinov is challenging the terms of his exit from the company.
FastMatch has been very active the past few months, outside of the FX volumes count. In March the company named Alain Courbebaisse as its new Chairman, replacing Lee Hodgkinson. FastMatch announced the opening of a new sales office in Greenwich CT late last year, located near some of its major customers. FastMatch also recently stated that it was opening up its FX tape data to the general public.
FastMatch also got a new look and logo (see above) last December from new owner Euronext NV (EPA:ENX). FastMatch’s three shareholders – Global Brokerage Inc (NASDAQ:GLBR), Credit Suisse and BNY Mellon Corp – announced in May 2017 that they were selling 90% of the company to Euronext for $153 million. The transaction closed in mid August.