GTX, the institutional subsidiary of the second-largest US forex broker Gain Capital (NYSE:GCAP) in terms of client deposits, released data on its May trading volumes. It shows that compared to April, they dropped 12% and compared to May last year, they were 1% lower. The total trading volume for the entire May was nearly $ 214.7 billion.
The average daily volumes (ADV) on GTX’ electronic communication network (ECN) and the swap execution facility (SEF), which recently got its license from the US Commodity Futures Trading Commission (CFTC), were $6.9 billion. They are 11% lower than April and 6% lower than last May. The highest trading volume was on May 3 – $10.3 billion and the lowest – on May 16, when it was barely $4.5 billion.
The total trading volume of the GTX’ ECN and SEF facilities for the entire month was $151.5 billion – 7% less than in April and 2% lower than May 2015.
The GTX swap dealer, which is an agency voice service executing trades in all forex products, had an ADV of $2.8 billion and a total trading volume of $63 billion. The figures are 13% and 9% lower than in April, respectively.
Earlier today another institutional broker – HotspotFX, also reported a drop in its trading volumes, reaching a six-month low.
The low results are most likely caused by the relatively stable markets and low volatility.