Going against the trend we have seen so far for May, institutional electronic FX platform FastMatch has reported an up month with FX trading volumes hitting $11.4 billion daily in May, up 5% from April.
Other results we have seen so far from Hotspot FX and Gain Capital’s GTX division indicate a slowdown in institutional FX trading in May.
FastMatch has been reshaping its sales team recently. The company said goodbye to Andrew Gibson and added former Citigroup eFX executive Nick Hamilton and Soren Klausen to its European FX Sales team.
FastMatch is jointly owned by retail forex broker FXCM Inc (NYSE:FXCM) and commercial banks Credit Suisse and BNY Mellon.