Continuing a string of somewhat slow set of trading volumes being reported for the summer months by leading institutional FX platforms, Forex ECN FastMatch has reported that August 2018 FX trading volumes were down 3% from July, with average daily trading volumes coming in at $19.5 billion.
However, despite the seasonal slowdown, FastMatch’s figures for both July and August are not too far off from the company’s best month ever set in May 2018, at $22.6 billion ADV.
By historical comparison, FastMatch averaged $17.1 billion ADV during all of Q4-2017.
During the month of August FastMatch’s controlling shareholder Euronext increased its stake in the company to 97.3% after buying out ex CEO Dmitri Galinov.
FastMatch has been very active the past few months, outside of the FX volumes count. In March the company named Alain Courbebaisse as its new Chairman, replacing Lee Hodgkinson. FastMatch announced the opening of a new sales office in Greenwich CT late last year, located near some of its major customers. FastMatch also recently stated that it was opening up its FX tape data to the general public.
FastMatch also got a new look and logo (see above) in December from new owner Euronext NV (EPA:ENX). FastMatch’s three shareholders – Global Brokerage Inc (NASDAQ:GLBR), Credit Suisse and BNY Mellon Corp – announced in May 2017 that they were selling 90% of the company to Euronext for $153 million. The transaction closed in mid August.