FXSpotStream has recently released its financial numbers for January 2021. Monthly trading volumes along with average daily volume (ADV) jumped significantly during the first month of the year. Monthly trading volumes reached $980 billion, a jump of nearly $40 billion compared to December 2020. The ADV also rose to $49 billion, its highest level since March 2020.
According to the official numbers, FXSpotStream saw a total of 20 trading days in January 2021. FXSpotStream reported $814 billion monthly trading volumes in January 2020 along with $37 billion ADV.
FXSpotStream saw a record-breaking month in March 2020 when the monthly trading volumes jumped above $1.3 trillion and AVD reached $62 billion. Since then, FXSpotStream has been able to maintain decent growth in trading numbers.
2021 started on a good note for FXSpotStream with strong financial numbers. In fact, ADV jumped 14.6% MoM and 32.4% YoY. Finance Magnates earlier reported about FXSpotStream’s December performance in which the company reported $42.7 billion ADV along with $941 billion in monthly trading volumes.
Growing FX Volumes
FXSpotStream reported growing trading volumes in 2020 due to a significant rise in demand. The company crossed $11 trillion in trading volumes last year, its highest level on record. FXSpotStream recently celebrated its nine years of service in the FX industry.
“Nine years ago, with the support of our founding banks, we set out to provide a more efficient, less expensive, more transparent way to allow our original six liquidity providing banks to interact directly with their clients and vice versa. One API in NY/LDN/TY, no fees for clients and a fixed fee for our LPs. Fast forward to today, and we are one of the fastest-growing FX channels in the industry. Since our formation exactly 9 years ago, we have added 9 more LPs, taking our total to 15, including Bank of America, Barclays, BNP Paribas, Citi, Commerzbank, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, MUFG, Societe Generale, Standard Chartered, State Street and UBS,” Alan Schwarz, CEO of FXSpotStream said.
Source: Read Full Article