As parent KCG prepares to sell it, Hotspot FX sees another strong month of trading volumes.
For the month of October, Hotspot FX has reported that trading volumes averaged $34.3 billion daily – not quite the $38 billion ADV Hotspot did in an industry-wide record setting September, but still well above the $29-$30 billion average seen over most of 2013 and 2014.
However that doesn’t tell the whole story.
Volumes during the first half of October, taking their cue from a very volatile September, continued strong averaging $38.4 daily – even above September levels. But the second half of October was a very different story, with volumes down more than 20% from the first half to $30.6 billion ADV. FX traders can be a fickle bunch, turned on or off to trading very quickly by market volatility (or lack thereof).