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Foreign Exchange

FXall Q2 volumes reach record level

Trading on multi-dealer platform FXall jumped 37% year on year during the second quarter of 2011, figures released today (August 1) show.

The US firm has not provided average daily volumes across the quarter, though it says trading hit a daily record of $140 billion on July 27. July trading was up 49% year on year.

The overall rise was driven by a near doubling of activity (compared with July 2010) on the firm’s active trading platform, which combines multi-bank liquidity with request-for-quote and anonymous-order-book trading. Combined, the firm’s platforms account for nearly one-third of the multi-dealer market; FXall registered a share of 28.6% in Euromoney’s 2011 FX survey.

“While market factors have contributed to increased volatility, our underlying business continues to grow as existing clients take advantage of new services,” says FXall chief executive officer Phil Weisberg. The firm’s client base is growing across market segments, he adds. Volumes are split roughly evenly across leveraged, real money, corporate and interbank trading clients, the firm told Euromoney in April.