GTX, the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP), has reported near-record trading volumes during the month of September, right on the heels of a record August for GTX – quite a surprise given the usually quiet nature of summer currency trading in the institutional world.
GTX reported total trading volumes of $341.7 billion in September or $16.3 billion ADV. On a total volumes basis that was down slightly, by 4%, from August’s record $357.3 billion, but on an average daily volume basis GTX saw volumes up to a record $16.3 billion versus $15.5 billion ADV in August, as there were less trading days in September.
| September 2017 | Total Volume | ADV | |
| ECN + SEF | 278,971 | 13,284 | |
| Swap Dealer | 62,759 | 2,989 | |
| Total | 341,730 | 16,273 | |
| % Change vs. August 2017 | Total Volume | ADV | |
| ECN + SEF | 0% | 9% | |
| Swap Dealer | -19% | -11% | |
| Total | -4% | 5% | |
| % Change vs. September 2016 | Total Volume | ADV | |
| ECN + SEF | 50% | 57% | |
| Swap Dealer | -7% | -3% | |
| Total | 35% | 41% |
The data presented includes GTX’s swap dealer business which provides “voice” agency execution services, representing about 20% of total volumes.