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Screenshot of a breaking news alert e-mail from Q2 2017
KCG Hotspot sees October volume metrics of $29.8 billion daily, up 4% from September.
In October, we saw what we thought was an across the board decrease in institutional FX volumes:
- Thomson Reuters -12%
- FXall -5%
- EBS -5%
- CME Group (FX futures) -22%
EBS and CME’s figures were their lowest volumes reported in several years.
Going against the trend, in a very positive way, is KCG Hotspot, which reported a modest 4% rise in October volume metrics to $29.8 billion per day. That is still well below Hotspot’s June high of $36.9 billion, but on a relative basis they had a much better October than their Forex ECN competitors listed above.
And Hotspot’s volumes this year were 31% above last year. Hotspot is still much smaller than its Forex ECN rivals, but at this pace they might not be for long.