Hotspot FX’s August trading volume continues to decline

Hotspot FX’s August trading volume continues to decline

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After a strong performance in June and a monthly decline in July, Hotspot FX, an Institutional forex broker Hotspot FX, part of BATS Global Markets (BATS:BATS) reported a further drop in its trading volume in August.

It totaled $520.5 billion over 23 trading days, or an average trading volume (ADV) of $22.6 billion. When compared to July, the total trading volume was almost 5.6% lower and the ADV dropped 13%.

The official company data shows that August was the second weakest month in terms of trading volume since the beginning of 2016 and barely better than May when the trading volume was $514.2 billion.

The strongest trading day for Hotspot FX was August 26 with $31.9 billion and the weakest – August 8 with $15.9 billion.

Hotspot FX is the first institutional Electronic Communication Network (ECN) broker. Its clients include banks, hedge funds, high frequency traders, corporate and commodity trading advisers.

BATS Global Markets is a US-based operator of exchanges and services for financial market. It is headquartered in Kansas City and has offices in New York, London, Chicago and Singapore. The company owns four US equities exchanges – BZX, BYX, EDGX, EDGA, one European equities exchange – Bats Europe, one US options exchange – Bats Options, in addition to Hotspot FX, which it acquired in January 2015.

Earlier on Thursday another major American institutional forex broker – Gain Capital’s GTX reported that its August trading volume recovered after a slump in July.

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