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Screenshot of a breaking news alert e-mail from Q2 2017
Following three months of strong FX trading volumes to start off the year, GTX – the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP) – has reported that activity slowed somewhat during the month of April 2018.
GTX reported $306.5 billion of total trading activity in April between its ECN and SEF business ($279.0B) and its Swap Dealer activity ($27.5B), down from $374.5 billion in March, an 18% decline. On a daily average volume basis, activity was down 14% in April, $14.6 billion ADV versus March’s $17.0 billion.
GTX ECN set an average daily volume record of $16.1 billion in February, beating the $13.9 billion record from January by 16%. A total monthly ECN FX volume record of $322.7 billion was also set in February, despite the fewer number of trading days, beating January’s $305.0 billion. Heading into 2018, GTX’s previous record of $279.8 billion dates to August 2017.
|April 2018||Total Volume||ADV|
|ECN + SEF||278,981||13,285|
|% Change vs. March 2018||Total Volume||ADV|
|ECN + SEF||317,738||14,443|
|ECN + SEF||-12%||-8%|
|% Change vs. April 2017||Total Volume||ADV|
|ECN + SEF||230,546||11,527|
|ECN + SEF||21%||15%|
The data presented includes GTX’s swap dealer business which provides “voice” agency execution services, representing about 20% of total volumes.
Outside of the volumes calc, GTX had a busy month in April, adding Bank of Tokyo executive Henry Durrant for FX liquidity management.