Integral reports strong rebound in June volumes, but down YoY
Currency trading on Integral’s platforms rose in June from a month earlier as increased volatility across financial markets led to greater activity on institutional FX venues.
Average daily volumes totaled $49 billion in June 2022, which is down 4 percent compared to the same period in 2021. Taking a month-over-month perspective, this figure was up by more than 5 percent when weighed against $46.6 billion in May 2022.
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 saw higher volumes in June spurred by uncomfortably high inflation and uncertainty over central banks’ monetary policies. Fed officials in June emphasized the need to fight inflation even if it meant slowing an economy that already appears on the brink of a recession.
The trend of strong turnover was observed in the monthly figures from institutional venues like FXSpotStream, as well as hybrid platforms like Exness, which saw its monthly volumes top the $2.2 trillion.
Integral opens up in Singapore
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.
Integral has expanded its technology services in Asia with a new trading data centre in Singapore. Integral’s cloud-based SaaS FX workflow platform went live on Equinix’s Singapore SG1 data center, which enables it to provide localized liquidity and execution services from a Singapore base.
The move provides banks, brokers and other market participants with a complete eFX system for their internal traders and external customers. On top of that, it also improves the trading experience for local partners in Singapore and the APAC region. Specifically, local clients will be able to deploy pricing engines, algos, connectivity and distribution tools immediately, as well as making prices, obtaining liquidity and hosting algorithms in a low latency configuration.
The Singapore presence adds to Integral’s existing operations in London and New York, as well as marks the firm’s third major global foreign exchange trading location. Founded in 1993, Integral maintains development, support, and sales offices in Palo Alto, New York, London, Tokyo, Singapore and Bangalore.