Naughty but nice: FXMS
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Foreign Exchange

Naughty but nice: FXMS

I frequently tell my children that if they can’t say anything nice, they shouldn’t say anything at all. It’s a principle I’ve been trying to adhere to all week, ever since I started getting phone calls asking me if I had seen that FXMarketSpace, the spawn of Reuters and the CME, had announced that it was no longer going to publish its volumes.

“During 2008 FXMarketSpace will suspend the disclosure of average daily volume data,” FXMS proclaims on its website. “The JumpBall Profit Share programme runs throughout the year and FXMarketSpace provides competing customers with additional information relating to trading volumes and rankings. The suspension in publishing average daily volumes ensures that the competition aspects of the JumpBall programme lead to maximum volume growth on the platform, thereby providing maximum value to our customers. All trading on FXMarketSpace remains completely anonymous.”

Most of my muckers are trying to get me to mock poor old FXMS, but I’m not playing that game. I’m sure FXMS has valid reasons for not publishing its volumes – and they have nothing to do with the fact that someone appears to have nicked its ball and not a lot of jumping is going on. I can tell you this: though FXMS says it is not publishing its volumes, you can still see them on Reuters if you want to know how it is doing. The numbers are not at all impressive.

FXMS’ volumes, Friday 11:03 am. Source: Reuters
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