Integral reports weakest FX volumes since October 2021

abdelaziz Fathi

Foreign exchange trading volumes dropped in October across Integral’s trading platforms as currency markets saw a relatively quiet period after consecutive months of strong trading activity.

Integral

Integral said that the average daily volumes (ADV) across its platforms totaled $45.7 billion in October 2022, which was the lowest reading in more than twelve months. The figure dropped 11 percent over a monthly timeframe, compared to $51.2 billion in September 2022.

Additionally, October volumes were below those reached in the same month a year ago. Specifically, the latest figures reflect a 10 percent increase when weighed against the metrics of October 2021.

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

The traditional subsided volatility across financial markets led to a dip in trading activity on major institutional FX venues, industry data shows.

Trading desks at some of the largest players in the foreign exchange market were also grappling with thin volumes. The trend of weaker turnover was observed in the monthly figures from Intercontinental Exchange and Saxo Bank.

Integral was in the news recently after the buy-side technology provider appointed Judy Goh, a highly experienced FX industry professional, as its head of APAC sales.

Judy joins Integral following a distinguished career in the Forex industry. She brings to the role nearly 16 years of experience at major global banks, where she was mainly focused on managing e-FX institutional sales.

In her capacity as head of APAC sales, she would promote Integral’s Open Currency Exchange (OCX), which 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.

Earlier this year, 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.

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