Another month, another volume record.
Continuing what has been a very strong start to the year with record FX trading volumes reported in January, GTX – the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP) – has reported that it beat those figures handily in February, and by a wide margin.
GTX ECN set an average daily volume record of $16.1 billion in February, beating the $13.9 billion record from last month 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.
| February 2018 | Total Volume | ADV | |
| ECN + SEF | 322,746 | 16,137.31 | |
| Swap Dealer | 53,702 | 2,685.11 | |
| Total | 376,448 | 18,822 | |
| % Change vs. January 2018 | Total Volume | ADV | |
| ECN + SEF | 6% | 16% | |
| Swap Dealer | -4% | 6% | |
| Total | 4% | 15% | |
| % Change vs. February 2017 | Total Volume | ADV | |
| ECN + SEF | 46% | 46% | |
| Swap Dealer | -13% | -13% | |
| Total | 33% | 33% |
The data presented includes GTX’s swap dealer business which provides “voice” agency execution services, representing about 20% of total volumes.