Hotspot FX AVD posts double-digit drop in March, MoM

Hotspot FX AVD posts double-digit drop in March, MoM

- in All News, Forex Brokers
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The US institutional forex broker Hotspot FX reported a 21.8% decrease of its average trading volume (ADV) to $25.5 billion. In comparison, in February its ADV was the solid $32.6 billion. Similarly, on a yearly basis the March 2016 ADV was 19.3% lower, compared to the $31.6 billion in March 2015.

In the 23 trading days of March were traded a total of $586.6 billion. The strongest day was March 10 with $47.5 billion. On March 25, however, were traded the meager $3.1 billion, but this could be explained with the fact that the catholic and the protestant Christians were celebrating Good Friday. Similarly, on Easter Monday were traded $9.9 billion.

In comparison, in February Hotspot FX reported a total monthly turnover of $684.3, or 16.7% higher than in March. The overall result, however, is not so bad, as in December last year the total turnover was even lower. Back then, however, the ADV was $24 083.

Hotspot FX is part of the  part of BATS Global Markets and is the first Electronic Communication Network (ECN) for the institutional forex market. Among its clients are banks, institutions, hedge funds, high frequency traders, corporate and commodity trading advisers. Trading on Hotspot FX is cleared through leading global clearing banks and prime brokers such as Bank of America, BNP Paribas, Citibank, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, Societe Generalte, Saxo Bank and FXCM Pro. Clients may also access the Hotspot ECN via other FX brokers such as AxiPrime, FixiPrime, Velocity Trade, Baxter FX, etc.

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