Integral Data for August Shows Muted Changes Seen in FX Volumes

abdelaziz Fathi

Foreign exchange trading volumes rose slightly in August across Integral’s trading platforms despite the stabilization in FX markets, which came after the specter of Covid over the global economy has receded. Subsided volatility across financial markets led to a dip in trading activity on major institutional FX venues, industry data shows.

Currency derivatives volumes explode in 2015

Integral said that the average daily volumes (ADV) across its platforms totaled $44.2 billion in August 2021, which rose by 0.5 percent over a monthly timeframe, compared to $44 billion in July.

Additionally, August volumes were above those reached in the same month a year ago. Specifically, the latest figures reflect a 11 percent increase when weighed against the metrics of August 2020.

Reported ADV represents volumes traded across the group’s entire liquidity network, including TrueFXTM and Integral OCXTM.

Trading desks at some of the largest players in the foreign exchange market were also grappling with mixed volumes. The trend of weaker turnover was observed in the monthly figures from Cboe FX and Interactive Brokers.

Integral’s Open Currency Exchange (OCX) brings a wide spectrum of FX market participants into a single integrated network of liquidity, where they can trade with each other. Clients of the OCX pay a monthly fee for access to the exchange, instead of per-trade fees. While it initially launched with a monthly subscription cost of $275, it was soon lowered to accommodate the trading volume of each user, rather than imposing an even charge to clients of all sizes.

Since the deployment of the platform in 2015, the Silicon Valley-based company has been working on several enhancements to bring major changes for existing clients that use the OCX, and attract new customers.

Most recently, GoDoFX, a newly-launched retail brokerage in the UAE, has partnered with Integral to deploy its MarginFX solution across its FX and CFD business.

This partnership allows GoDoFX to benefit from full automation of their entire eFX workflow, including a control of the more than 10,000 currency pairs available on its system. The broker can also trade with clients over multiple distribution platforms, either through a fully branded single dealer trading platform or integration with multi-dealer platforms.

GoDoFX also benefits from a hosted MT4 solution, pricing engine and risk management services.

Read this next

Retail FX

Investors from Cyprus and Dubai acquire ‘significant stake’ in M4Markets

Seychelles-regulated brokerage firm M4Markets firm has picked up some investment from Cyprus and Dubai based investors in a new funding round that it will be using to grow its business.

Executive Moves

UAE broker Amana elevates Amr Masry to sales director

Amr Masry has been promoted to a new senior role at Amana Capital, becoming the group’s newest Sales Director, following a successful tenure with the UAE-based FX and CFDs broker.

Executive Moves

TopFX promotes Omar Al-Janabi to head of sales and business development

Prime brokerage firm TopFX has strengthened its Middle East operations with the promotion of Omar Al-Janabi, who is taking on an expanded role as global head of sales and business development.

Retail FX

Plus500 says 2022 revenue to be ‘significantly’ ahead of analysts’ estimates

Israeli-based, but London-stock market listed Plus500 said it expects annual revenue and earnings to be ahead of analysts’ estimates even as trading levels normalised from record volumes in the first quarter.

Digital Assets

Crypto derivatives giant BitMEX launches spot market

Crypto exchange BitMEX is looking to branch out of its singular focus on crypto derivatives with a suite of new product offerings. Although derivatives are to remain at the heart of BitMEX’s business, the popular platform will add spot crypto trading as it aims to aggressively grow their user base.

Uncategorized

PrimeXM reports mixed trading volumes for April

PrimeXM has reported weaker trading volumes for April 2022, in line with other institutional and retail platforms that saw the activity of their clients dropped compared to a month earlier.

Digital Assets

DLT Finance approved by BaFin to support brokerage and custody of digital assets

DLT Finance is already partnered with big names within the digital asset space, including Kraken, Bitstamp, B2C2, and Bittrex.

Institutional FX

LUKB taps vestr to launch actively managed products, AMCs

The partnership with vestr goes to show the growing importance of digitising the active investment management space.

Digital Assets

Jewel taps Tokeny to launch stablecoin-as-a-service solution on Polygon

Jewel aims to offer a stablecoin-as-a-service solution to other digital asset and financial institutions B2B, allowing those businesses to provide cheaper, easier and near real time payments with stablecoins issued and redeemable directly at the bank level at Jewel.

<