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

Gain Capital GTX FX 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 2017 Total Volume ADV
ECN + SEF             250,450               11,384
Swap Dealer               72,455                 3,293
Total            322,905              14,678
% Change vs. September 2017 Total Volume ADV
ECN + SEF -10% -14%
Swap Dealer 15% 10%
Total -6% -10%
% Change vs. October 2016 Total Volume ADV
ECN + SEF 37% 31%
Swap Dealer 24% 18%
Total 34% 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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