Forex Weekly Look Back: CCI Traders launches MT5 with ECN, ITI Capital upgrades its FX trading platform

Looking back at the most intriguing and popular industry news from the past week between 3rd and 7th of August on LeapRate.

Australian financial market exchanges ASX Group released its July volumes. The company reported total capital raised of $4.4 billion, an 8% decrease on the previous corresponding period (pcp). In the Cash Market the average daily number of trades was 11% lower than the pcp. Futures ADV fell 11% and the OTC Market ADV by 56% on the pcp.

Exchange holding company Cboe Global Markets, Inc. reported July 2020 volumes, with some fluctuations in the market from previous months back after having settled down in June. Cboe reported Options ADV down 15.9% MoM, Futures ADV were also down 21.9% MoM. US Equities ADV fell 20.3% MoM and Global FX ADNV dropped 13.3% compared to June. Cboe also published its volumes for the second quarter of 2020 with $296.9 million net revenue with 5% increase.

The Russian market operator Moscow Exchange Group (MOEX) announced a RUB 79.9 trillion in total trading volumes, up by 9.6% MoM (RUB 72.9 trillion in June 2020). Some sections of the market reported drops, while others had small growth compared to June when all sections were up. The Money Market led with 12.6% MoM, the FX Market followed with 10% MoM. The Derivatives Market was down by 3.3% MoM and Equity & Bonds Market fell 14.7% MoM.

Derivatives marketplace CME Group released its monthly metrics for July. The company reached average daily volume (ADV) of 13.6 million contracts for July, 20.5% down compared to June. The open interest at the end of July reached 101 million contracts, the same as the previous month. CME Group’s monthly metrics highlights from July include Equity index of 5.2 million contracts, down by 18.8% MoM and Interest Rate of 4 million contracts with a 31% decrease MoM. Options ADV reached 2 million contracts with 20% drop and Energy ADV was 1.7 million contracts, down by 15%.

Deutsche Börse published its monthly volumes report for July 2020. The volumes for last month are down compared to June but still up on year-over-year basis. The company reported a 26% MoM drop in turnover with €147.1 billion in July (€198.8 billion for June 2020). The numbers are up by almost 18% in comparison to July 2019 when it was €124.8 billion.

LeapRate found out that the online trading company CCI Trading LLC launched an Electronic Communication Network (ECN) with MT5 trading platform. ECN is widely popular in the trading industry for many reasons, including transparency, flexibility, automatic matching and execution of orders, direct market liquidity with banks, and other big institutions.

FXSpotStream reported drops in its trading volumes for July compared to last month. LiquidityMatch LLC’s wholly owned subsidiary registered ADV of $40.414 billion with 6.6% fall following June – the company’s third highest month ever. On yearly basis, the ADV volumes marked a 11.43% rise compared to the same period in 2019.

Global financial service provider ITI Capital announced it plans to upgrade its FX trading platform. The new service is expected to launch by the end of August. ITI Capital acquired SVS Securities in June this year. SVS was placed under special administration last year. As part of the acquisition, ITI also gained a group of FX clients. The company has not started onboarding the FX clients yet but it expects to do it when the FX service has upgraded later this month.

Forex Weekly Look Back

Global CFDs trading provider Trade360 announced its new online trading platform is now available for customers. The platform includes a host of new features and updated user interface. The new online trading platform features more then 100 technical indicators and charting instruments, as well as the ability to set a specific leverage for each position without the need to contact one’s account executive. Profit/Loss simulator which immediately assesses target levels based on spread has also been added to the platform.

LeapRate learned that Isabella Mannucci joined Gold-i’s sales team from GMO, reporting directly into Chief Commercial Officer, Julian Elliott. She spent 18 months at GMO, initially as Relationship Manager in GMO’s retail business, Trade UK and more recently in institutional sales e-FX and CFDs for Global Markets. At Gold-i, Mannucci will focus on global sales opportunities and developing strategic partnerships. One of her initial priorities will be promoting Gold-i’s suite of products to the EMEA region.

UK-based provider of foreign exchange services to institutions, Argentex Group PLC released full year results for the year ended 31 March 2020. The Group reported FX turnover of £12.1 billion, registering a 12% increase compared to the previous year when it was £10.8 billion. Group revenue or the year increased 32.3% to £28.9 million. Underlying operating profit reached £12.5 million with 28% rise compared to the £9.7 million in 2019. The underlying earnings were £10 million and earnings per share were 7.1p (basic) and 8.8p (underlying).

Apple acquired Canadian startup Mobeewave and secured technology that can transform iPhones into mobile payment terminals. Mobeewave’s technology allows users to process payments with a tap of their credit card or smartphone on another phone. This works with an app and uses an NFC chip which iPhones already have since 2014. With the acquisition, Apple also kept all of the Mobeewave employees.

On Tuesday the price of gold passed $2,000 an ounce for the first time in history, driven by continued fears of the economic impact of the coronavirus pandemic, and rock-bottom bond yields. The precious metal surged even higher overnight, and is currently trading north of $2,030. The price of gold has surged by more than 30% year-to-date, with the pace of that increase picking up sharply in mid-July as Covid-19 cases in the US surged. State Street Global Advisors’ SPDR Gold Trust (GLD), the largest gold ETF, has taken in close to $20bn in net new assets in 2020 so far, taking its assets under management to $77.4bn.

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