FXall excelling under Thomson Reuters’ ownership

FXall surpasses ICAP-EBS as the #2 Forex ECN.

It looks as though having Thomson Reuters as its parent company is paying dividends for FXall. The Forex ECN, which was acquired earlier this year by Thomson Reuters for $625 million, stopped reporting its monthly trading volumes after being taken private by Thomson Reuters. However recent filings by Thomson Reuters revealed that soon after the acquisition FXall hit its all-time volume high of $105 billion (average daily trading volume) in September, its first-ever month above the $100 billion level.

October volumes retreated somewhat (10%) to $94 billion, as institutional volumes generally were slow in October, but in the “big picture” it looks like FXall is the only major FX ECN seeing volumes higher this year than last.

And importantly, FXall for the first time surpassed ICAP-EBS in volume to become the second largest ECN. ICAP has shaken up EBS management, and changed some of the trading rules at EBS, in an attempt to turns things around and please some of their larger institutional and bank clients.

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