Looks like June’s Brexit-driven volatility and record FX trading volumes didn’t fully spill over into July.
As we begin to review the July FX trading volumes at leading retail and institutional eFX platforms, FastMatch is reporting that volumes in its system fell 21% MoM from June (a record month for FastMatch) to average $12.9 billion ADV for the month.
Nevertheless, July was still the second best month ever at FastMatch – before June’s record, FastMatch’s previous best month was November 2014 at $12.2 billion. And June’s record volumes at FastMatch were of course helped by the one-day record of $39.8 billion in trades seen on Brexit Friday. So overall, not a bad month at all for FastMatch.
FastMatch is jointly owned by retail forex broker FXCM Inc (NYSE:FXCM) and commercial banks Credit Suisse and BNY Mellon.