Hotspot FX August volumes – not bad, all things considered

Knight Capital unit Hotspot FX reported that volumes in its Forex ECN system fell in August to average $21.0 billion daily, down 19% from July’s $25.9 billion — and down 34% from last-year August’s $31.5 billion. The August decrease at Hotspot FX was indeed larger than those seen at other Forex ECNs and futures exchanges (e.g. ICAP off 10.5%, FXall down 7.3%, Thomson Reuters down 11.5%, CME Group down 8.7% to its lowest volume level since 2009), but given the problems at parent Knight Capital at the beginning of August things could have been a lot worse.

By comparison, the problems at Knight which nearly brought down the company had a much greater effect on Knight’s equity market making business, with August volumes there down about 35% from July and 65% from last year.

Knight Capital Chairman & CEO Tom Joyce remarked at an investor conference last week that volumes have largely returned to levels seen before their early-August trading “glitch”.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.


Related News


Hotspot FX August volumes – not bad, all things considered


Send this to a friend

Subscribe to LeapRate
Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry: