GAIN Capital GTX FX volumes remain strong in March at $17 billion ADV

Following two consecutive months of record 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 it continued its strong Q1 with another stellar month in March.

GTX reported $374.6 billion of total trading activity in March between its ECN and SEF business ($317.8B) and its Swap Dealer activity ($56.8B). That total volume figure is basically identical to February’s $376.4 billion, although on an average daily volume basis was down 10%, given the fewer trading days in February.

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.

March 2018 Total Volume ADV
ECN + SEF             317,798          14,445.36
Swap Dealer               56,797            2,581.66
Total            374,595              17,027
% Change vs. February 2018 Total Volume ADV
ECN + SEF -2% -10%
Swap Dealer 6% -4%
Total 0% -10%
% Change vs. March 2017 Total Volume ADV
ECN + SEF 17% 22%
Swap Dealer -16% -12%
Total 11% 16%

The data presented includes GTX’s swap dealer business which provides “voice” agency execution services, representing about 20% of total volumes.

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