FX news: FXall hits new high on the back of Lava flow
Leading platform FXall recently exceeded daily FX volume of $100 million on a single-count basis.
The volume growth was driven by an increase in trading activity across all client segments – hedge funds, CTAs, banks, broker-dealers, corporate treasurers and asset managers – and resulted in all-time high volumes on both the existing FXall platform as well as on LavaFX. FXall acquired LavaFX from Citi at the beginning of the year; Lava’s volume is up 40% over the first quarter last year.
FXall has recently made a number of client-facing hires particularly in Asia. Principal among them is that of Sam Tijoe as head of services for Asia. Tijoe, formerly head of Currenex for Singapore and Hong Kong, takes responsibility for driving FXall's initiatives across Asia, particularly looking to enhance FXall’s service to its clients in the region and to deepen the relationships with FXall’s liquidity providers.
In the Americas, Kari Honkaniemi has joined FXall as sales director in New York. Honkaniemi has over 20 years of global FX sales experience from Deutsche Private Bank and Citi in New York, Zurich and Helsinki, most recently providing independent FX consulting services.