Single-Day Benchmark Smashes Previous Record Set January 25th
GTX’s FX ECN set a single-day volume record of $25.996 billion today, besting the previous high of $22.957 billion set January 25, 2018. A spike in market volatility and surge in algorithmic trading activity drove the ECN’s performance.
“Today’s record activity speaks to the utility of our ECN as a place to get business done during extreme market volatility,” said Vincent Sangiovanni, CEO, GTX Bermuda Ltd. “This is a testament to the liquidity available on the ECN as well as the reliability and performance of its trading technology.”
Today’s single-day volume record follows monthly volume records set in January. Last month GTX’s ECN saw total monthly volume of $305.0 billion. The previous milestone, set in August 2017, was $279.8 billion. January’s average daily volume of $13.9 billion was a record as well. The previous record of $13.3 billion was set in September 2017.
These volume records reflect increased activity from algorithmic traders on the platform.
To support algorithmic trading, GTX provides proprietary time-weighted average price (TWAP) algorithms on its front-end GUI as well as live market data via a range of time-sliced and real-time binary protocols. Market data and the TWAP algorithm are provided free of charge to clients.