$10.3 Billion Average Daily Volume Record Set as ECN Network Expands to Europe and Asia
GTX’s ECN achieved a record average daily volume (ADV) of $10.3 billion during the month of November 2016. This record exceeds the previous $9.6 billion high set in June 2016.
Including volume handled by the firm’s registered swap dealer, which provides anonymous, agency execution services, GTX’s overall November ADV was $14.3 billion, the second highest in its history.
“We are gratified to see record ECN trading volume exceeding the milestone $10 billion level,” said Vincent Sangiovanni, CEO, GTX Bermuda Ltd. “The record speaks to the growing utility of the GTX ECN to our clients and marks the venue’s strong, long-term volume growth.”
The record trading volume coincides with the global expansion of the GTX ECN. In October, GTX launched an ECN matching engine in London and is on track to launch a matching engine in Tokyo at the end of January 2017.
GTX is the institutional foreign exchange trading arm of GAIN Capital Holdings Inc.