FX August Trading Volumes: EXNESS, KCG Hotspot & Moscow Exchange


FX August Trading Volumes: EXNESS, KCG Hotspot & Moscow ExchangeLeading CySec-regulated retail FX broker EXNESS announced trading volume of $171.4 billion for the month of August 2014, a 7 percent decline from July. However, the firm said it added 3,500 new client accounts compared with July.

July’s trading volumes, which totaled $185.1 billion, were the highest in 2014.

Nonetheless, at a time when most FX firms are experiencing reduced trading volumes, EXNESS is one of the few companies that have managed to weather the storm. In fact, EXNESS closed the month of August with 3,572 new client accounts more than the month of July.

EXNESS, which regularly publishes detailed trading reports, had commissioned Meritorius Audit Ltd to review the company’s performance and trading volumes from May to July 2014. Meritorius positively confirmed the validity of EXNESS’ calculations.

Meanwhile, KCG Holdings, which owns FX firm KCG Hotspot, also released its trading metrics for the month of August, which showed an improvement from the previous month.

KCG Hotspot reported average daily volumes of $28.9 billion in August, up 20 percent from July’s reading of $23.9 billion. The August figure is close to $28 billion recorded in the month of August 2013, though it represents an increase of 3.2 percent YoY. Hence, KCG posted favorable MoM and YoY trading volume figures last month. KCG’s performance in August was also its best performance since March.

Elsewhere, Moscow Exchange reported that turnover on all assets stood at 37.3 trillion rubles in August. CCP repurchase in money markets recorded the largest growth in turnover with 16 percent, followed by equities with 15.5 percent, FX with 13.9 percent, and derivatives with 10.1 percent.

FX market turnover fell 15.8 percent MoM from July’s reading of 20.2 trillion rubles. The average daily turnover for FX market stood at 807.8 billion rubles ($22.4 billion).To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Yashu Gola at yashu@forexminute.com