FXall tops parent Thomson Reuters and rival ICAP EBS at $111 billion daily volume.

This was a long time coming, and not really unexpected…. Forex ECN FXall reported that September forex volume metrics hit $111 billion daily — edging out parent Thomson Reuters’ $110 billion and rival ICAP EBS’ $81 billion to claim for FXall its first-ever crown as the #1 Forex ECN.

The $111 billion figure is also FXall’s second-best ever result, second only to June’s blowout $123 billion.

By contrast, rival EBS’ $81 billion September figure is just 3% above its worst-ever result (dating back eight years) seen in August.

To better understand the market shift here, we take a quick look two years back to October 2011. FXall did $67 billion of daily volume in Oct ’11 — its best-ever result at the time — but (much) less than half what Thomson Reuters ($151 billion) and EBS ($161 billion) were doing at the time. FXall and its management team led by Phil Weisberg — now running all of Thomson Reuters’ FX liquidity businesses — has indeed come a long way.

We should note that there does continue to exist a few major differences between EBS and Thomson Reuters / FXall. Primarily, EBS is the leading liquidity provider for the Euro, the Yen and the Swiss Franc. Thomson Reuters and FXall platforms provide more liquidity for other currencies like the British Pound and the Australian and Canadian Dollars. However the way things are going, FXall may soon take over the lead in the EUR, JPY and CHF pairs as well.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.