Institutional volumes return to FXCM in November
FXCM sees best overall month for FX volumes since June.
Leading retail FX firm FXCM, the world’s largest online FX broker, announced its November trading activity levels, with retail volumes coming in at $305 billion for the month, and institutional at $90 billion. Comparatively (see chart below), retail volumes were down 6% as compared with October (but were flat on a per-day basis, October just had more trading days than November). However institutional volumes roared back increasing 68% in November to $90 billion for the month. Indeed, this was FXCM’s highest total volume month since June.
FXCM has indicated that it plans to continue to expand, including the active pursuit of acquisitions. Despite generating a healthy level of positive cash flow, FXCM recently filed a prospectus for a potential $125 million financing, creating lots of “dry powder” for acquisitions.
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