FastMatch has second best ever month in September as FX volumes hit $13.7 billion ADV


Beginning what we believe will be a series of fairly strong September trading volume reports by both retail and institutional Forex platforms, Forex ECN FastMatch is reporting that volumes in its system rose by 33% MoM from August, to average $13.7 billion ADV for the month.

September was FastMatch’s second best month ever for FX trading volumes, second only to June 2016’s $16.3 billion. During most of last year, FastMatch was doing in the neighborhood of $7-9 billion ADV, so it appears that the company has taken a major step up during 2016.

During September, FastMatch announced that it had chosen the TradAir FX platform to target professional ‘clicker’ traders.

FastMatch is jointly owned by retail forex broker FXCM Inc (NASDAQ:FXCM) and commercial banks Credit Suisse Group AG (ADR) (NYSE:CS) and BNY Mellon Corp (NYSE:BK). FXCM has been active monetizing assets to pay down its high interest loan from Leucadia National Corp (NYSE:LUK) – most recently selling its DailyFX research and news site to IG Group Holdings plc (LON:IGG) for $40 million. We believe that FXCM’s stake in FastMatch may be next on the block.

fastmatch-volume-graph-sep2016

Related News

arrow

FastMatch has second best ever month in September as FX volumes hit $13.7 billion ADV

5

Send this to a friend