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Foreign Exchange

Hotspot FX volumes rise in May

Hotspot FX, the multidealer platform owned by US broker Knight Group, has reported a 25% increase in average daily turnover for May.

An average notional $67.8 billion per day changed hands on the exchange during May, up from $54.2 billion in April and up approximately 39.2% from $48.7 billion in May 2010. There were 22 trading days in May 2011, versus 21 trading days in April 2011 and May 2010.

May 2011 is the fifth month in a row for which trading has topped the trillion-dollar mark in notional cash value.

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