Daily, Monthly Volumes Surpass January Highs
For the second consecutive month, GTX’s FX ECN has set new single day, average daily, and total month volume records. A spike in market volatility as well as new client activity drove the ECN’s record performance.
February’s total monthly volume was a record $322.7 billion. The previous record of $305.0 billion was set in January.
The month’s average daily volume of $16.1 billion was a record as well. The previous record from January was $13.9 billion.
Finally, the ECN set a single-day volume record of $25.9 billion on February 6, 2018. That figure bested the previous record of $23.0 billion set January 25, 2018.
“We are pleased to see activity from new and existing clients increasing on the GTX ECN,” said Vincent Sangiovanni, CEO, GTX Bermuda Ltd. “Growth came from many areas including increased buy-side algorithmic trading, with participation from high frequency quantitative strategies as well as tactical algorithms used by real-money and other institutional clients.”
To support algorithmic trading, GTX provides a proprietary time-weighted average price (TWAP) algorithm on its front-end GUI as well as live market data via a range of time-sliced and real-time binary protocols.