Whilst trading volumes and corporate revenues among many retail and institutional FX firms and venues during May remained steady, with slight fluctuations up or down compared with the previous month, FXCM Inc (NYSE:FXCM) experienced a remarkable upturn in trading revenue.
A $331 billon retail FX volume, reported yesterday, made for a clear 8% increase compared with April’s results, restoring investor confidence as demonstrated by today’s share price increase.
At 11.00am today Eastern Standard Time, shares were up 5.02% to a high of $1.675, having started the day at 9.00am at $1.64.
After the New York opening during which the firm’s share price rallied, it settled down toward midday, however a clear correlation between yesterday’s announcement of May’s stellar results and the increasing value of FXCM stock is clearly apparent.
Chart courtesy of Google Finance