LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
It looks like August was a very slow month for forex trading.
Following our earlier reports about August volume declines at competitors GTX and FastMatch, institutional eFX venue Hotspot FX, a division of Bats Global Markets Inc (BATS:BATS), has reported that August 2016 volumes averaged $22.6 billion daily, down 14% from July’s $26.2 billion.
The $22.6B figure is the second lowest reported since Hotspot FX was acquired by Bats from KCG for $365 million in early 2015, and also the second lowest number posted by Hotspot in about four years, when in late 2012 volumes were regularly in the low teens. (November 2015 volumes were slightly lower at $22.4B).
As more institutional and retail FX brokers report volumes for August we’ll see if this down trend continues. Stay tuned to LeapRate…