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

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<