GTX, the institutional trading arm of the US forex broker Gain Capital (NYSE:GCAP), reported that its June trading volumes rose 24% from May. The rise is mostly attributed to the spectacular trading volumes on June 24, but, considering that in May GTX saw a 12% drop from April, the figures are in reality somewhat more modest in the context of the general picture.
The combined average daily volume (ADV) of the electronic communication network (ECN) and swap execution facility (SEF), which recently got its CFTC license, was USD 9.6 billion, up 40% from May. The total trading volume for the entire June reached almost USD 212.3 billion.
The swap dealer business (a voice service that executes trades in forex and other assets), however, posted a 16% drop from the previous month, to USD 2.4 billion on average per day. The total trading volume for the month was USD 53.4 billion.
Compared to June 2015, this June’s trading volume of the ECN and SEF trading volume rose 18%, while that of the voice service swap dealer declined 9%.
The overall combined monthly trading volume of the three trading facilities offered by GTX was USD 265.6 billion and the ADV was a little over USD 12 billion.
On June 24, following the Brexit market shock, GTX reported the record daily trading volume of USD 24.2 billion with most heavily traded forex pairs were GBP/USD, EUR/USD and USD/JPY, mostly on its ECN. On the same day its parent company Gain Capital reported it was not adversely affected by the market volatility on that day.