Hotspot FX volumes fall 9% in July to $26.2 billion ADV


Continuing a trend of what we believe will be volume declines at many of the leading retail and institutional FX platforms this month, the Hotspot FX unit of Bats Global Markets Inc (BATS:BATS) has reported that volumes averaged $26.2 billion per day in July – down 9% from June’s $28.8 billion ADV.

We’d note in making the comparison, however, that June included Hotspot FX’s second best day ever, Brexit Friday (June 24), when volumes hit $59.5 billion.

Hotspot FX volumes remain well below the $30B+ ADV levels the company saw in January and February of this year, and in much of late 2014 / early 2015, as the company continues to lose eFX market share to larger rivals EBS and Thomson Reuters, as well as growing upstarts GTX, FastMatch and FXSpotStream.

Hotspot FX volume July 2016

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Hotspot FX volumes fall 9% in July to $26.2 billion ADV

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