GTX sees 10% MoM decline in October institutional FX trading volumes to $14.7 billion ADV


GTX forex volumes

GTX, the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP), has reported a 10% decline in trading volumes during the month of October, after seeing near-record trading volumes during the months of August and September.

The weaker volumes, although still strong on a historical basis, were driven by low currency volatility over the past few weeks, with the benchmark EURUSD currency pair trading in a tight 1.16-1.18 band throughout most of the month.

GTX reported total trading volumes of $322.9 billion in October or $14.7 billion ADV. On a total volumes basis that was down slightly, by 6%, from September’s near record $341.7 billion, but on an average daily volume basis GTX saw volumes down 10%, as there were more trading days in October than September.

October 2017Total VolumeADV
ECN + SEF            250,450              11,384
Swap Dealer              72,455                3,293
Total           322,905              14,678
% Change vs. September 2017Total VolumeADV
ECN + SEF-10%-14%
Swap Dealer15%10%
Total-6%-10%
% Change vs. October 2016Total VolumeADV
ECN + SEF37%31%
Swap Dealer24%18%
Total34%28%

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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GTX sees 10% MoM decline in October institutional FX trading volumes to $14.7 billion ADV

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