Continuing the parade of healthy September FX trading volume reports, GTX – the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP) – has reported that September FX volumes increased by 19% MoM and by 25% YoY, coming in at $11.5 billion ADV.
ECN and SEF trading at GTX saw volumes average $8.5 billion daily during September, up 30% from August.
GTX’s swap dealer business actually saw a 3% decrease during the month, to $3.1 billion ADV.
GTX was fairly busy during the month of September – hiring Eduard Poltavsky from Hotspot FX for Eastern Europe sales, teaming with Nightberg to provide market strategy service to FX clients, and launching London and Tokyo matching engines.
Note that the registered swap dealer is an agency voice service that executes trades in all FX products. GTX also operates GTX Swap Execution Facility (SEF), which currently supports NDF trading.