Forex ECN FastMatch is reporting that volumes in its system increased during March by 16% MoM, to average $19.2 billion ADV for the month.
That makes March 2017 FastMatch’s best ever month for trading volumes, handily topping the company’s previous best of $17.1 billion ADV set in November 2016.
FastMatch’s good results come at a very good time for Global Brokerage Inc (NASDAQ:GLBR), formerly known of course as FXCM, we understand has been actively looking to sell its stake in the company.
FastMatch is jointly owned by Global Brokerage Inc and commercial banks Credit Suisse Group AG (ADR) (NYSE:CS) and BNY Mellon Corp (NYSE:BK). Global Brokerage Inc / FXCM has been actively monetizing assets to pay down its high interest loan from Leucadia National Corp (NYSE:LUK) – most recently selling its DailyFX research and news site to IG Group Holdings plc (LON:IGG) for $40 million, and its US clients to the Forex.com unit of rival retail forex broker Gain Capital Holdings Inc (NYSE:GCAP).