Institutional Forex ECN Hotspot FX has reported that April trading volumes decreased by 7% MoM from March, clocking in at $27.7 billion average daily volume for the month.
Hotspot’s April figures begin a parade of what we believe will be weak volume reports in the FX sector, following what was a fairly strong March at many of the leading retail and institutional eFX venues, including record results seen in March at some leading FX brokers and institutional trading venues.
April 2017 marks the second month that Hotspot FX was operating under the corporate umbrella of its new owner, CBOE Holdings Inc. (NASDAQ:CBOE). CBOE acquired control of Hotspot FX via its $3.2 billion takeover of Bats Global Markets Inc at the end of February. CBOE wasted no time in rebranding its Forex ECN unit as: Hotspot – a CBOE company.