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Screenshot of a breaking news alert e-mail from Q2 2017
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|
|% Change vs. September 2017||Total Volume||ADV|
|ECN + SEF||-10%||-14%|
|% Change vs. October 2016||Total Volume||ADV|
|ECN + SEF||37%||31%|
The data presented includes GTX’s swap dealer business which provides “voice” agency execution services, representing about 20% of total volumes.