Forex Weekly Look Back: PrimeXM February trading volume reaches $909.89 billion, Refinitiv and MarketsMojo pair up to expand global reach

Looking back at the most intriguing and popular industry news from the past week between 1st and 5th March on LeapRate.

Lisa Pollina has been announced by the Board of IG Group Holdings plc as the latest Non-Executive Director of the company. The online trading company has brought Pollina on board due to her vast experience in relevant leadership roles and advisory boards.  Her appointment comes in conjunction with IG Group’s proposed acquisition of financial network, tastytrade.

Emerging markets-focused brokerage firm ITI Capital has announced that it now offers Public Offerings (IPOs) and Secondary Placings investment service to its clients. The new services enable ITI Capital clients and new Elected Professional and Professional per se clients to get access to deals globally, from private company offers through to those listed on the major global exchanges.

Brian Mattingley has been appointed Non-Executive Chairman of gambling software technology provider, Playtech. Mattingley will succeed Claire Milne as of 1st June 2021, as he steps down from his role as Chairman of 888 Holdings Plc. Claire Milne had served as Interim Chairman since May 2020.

Exchange holding company Cboe Global Markets, Inc. reported its February 2021 monthly metrics, with a small decrease in some sections of the market and some gains in others, compared to January. Cboe reported Options ADV down by 3% MoM, Futures ADV decreased slightly by 1% MoM. US Equities ADV was up 1% MoM and Global FX ADNV increased by 6% MoM compared to January 2020.

FX technology provider Integral released its trading volumes across its trading platforms for February 2021 with a small rise compared to January and steady growth on yearly basis. The company registered average daily volume (ADV) of $50.4 billion in February. This represents 10% MoM rise compared to January when it reached $45.8 billion.

In February 2021, total trading volumes across Moscow Exchange’s markets grew by 12.8 % MoM to RUB 72.1 trillion (RUB 63.9 trillion in January 2021). Standout growth leaders were the Equity Market (+20.4% MoM) and Money Market (+29.7% MoM), while smaller growth was recorded for the Derivatives Market (+3.5% MoM), and FX spot Market (+4.8% MoM).

LSEG business Refinitiv will provide comprehensive analytics, tools and data to India’s first algorithm-based Fintech research platform, MarketsMojo, as it works to help expand the company’s stock market advisory services and broaden its worldwide range. Derived from its home-grown IP, MarketsMojo currently offers its clients professional share market research, plus advice and portfolio tools to help them make worthwhile decisions relating to portfolios and stock selection.

PrimeXM has just released its trading volumes for February 2021. The broker registered a total of $909.89 billion in monthly trading volume in February across the 3 major Data Center locations. The metrics represent a 3% MoM increase compared to January when it was $883.26 billion. The Average Daily Volume (ADV) in February reached $45.49 billion with a 3%MoM improvement compared to the ADV of January when it was $44.16 billion. 1st February was the highest daily trading volume of the month with a $67.56 billion turnovers. The total trades registered in February were 28.79 million.

Global brokerage StoneX has announced it has bought a minority stake in diversity broker Tigress Financial Partners. StoneX has invested into the US’ only disabled and woman-owned investment firm. The closing of the deal is subject to regulatory approval. By partnering with StoneX, Tigress allows its clients to benefit from StoneX’s global reach, broad product range and technology.

Paul Fincham will report to Chief Communications & Marketing Officer Brigitte Trafford as he begins his new role as LSEG Group Head of Communications on 29 March 2021. Fincham’s newly established position will see him leading the London Stock Exchange Group’s global communications team, as he brings with him more than 25 years’ experience.

Deutsche Börse published its monthly volumes report for February 2021. The volumes for last month fell, compared to January and on a year-over-year basis. The company reported a 7.9% MoM decrease in turnover with €167.6 billion in February 2021 (€181.9 billion in January 2021). The numbers down by 8.4% YoY in comparison to February 2020 when it was €189 billion.

Forex Weekly Look Back

Trading technology provider Aquarius Financial Technologies Ltd has announced a strategic partnership with CQG, a provider of technology solutions for traders, brokers, commercial hedgers, and exchanges. The collaboration between the two companies will support Aquarius’ plans to launch an institutional-grade global cryptocurrency exchange using CQG’s technology. The exchange is planned to launch in the third quarter of 2021.

Online multi-asset trading services, currency data and analytics provider, OANDA has announced its has teamed up with TradingView, a social network for traders. The partnership will allow mutual clients in the UK and Europe to trade directly from charts using their OANDA account.

The international derivatives exchange Eurex has announced its partnership with FTSE Russell to extend its pioneering Total Return Futures (TRF) segment through a new contract on the FTSE 100 Index. Through the cooperation with FTSE Russell, the member of the Deutsche Börse Group is further expanding its collaboration with leading index providers in its index segment. The launch is scheduled for 29 March. It reflects the goal of supporting the global shift towards regulated on-exchange trading with central clearing, as well as passive investments.

As a result of a developing client base of asset managers and FX hedge funds, IS Prime has now launched a new risk system and trading GUI alongside trading technology company, Reactive Markets. IS Prime offers its users full-service brokerage and is an FCA-regulated Prime of Prime. Its service sources aggregated pricing from Tier one institutions, settled via the firm’s bank Prime brokers. It is part of ISAM Capital Markets, which also includes IS Prime Hong Kong and IS Risk Analytics.

Global institutional FCA regulated broker ATFX has enhanced their liquidity capabilities by teaming up with 1 Prime Broker. The partnership is part of the broker’s business expansion strategy to offer direct market access to Institutional clients with Tier 1 Bank and Non-Bank providers.

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