GTX, the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP), has reported that August FX volumes decreased by 5% YoY and by 9% MoM from July levels, coming in at $9.7 billion ADV.
ECN and SEF trading at GTX saw volumes average $6.5 billion daily during August, down 21% from July.
GTX’s swap dealer business actually saw a 33% increase during the month, to $3.2 billion ADV.
Note that the registered swap dealer is an agency voice service that executes trades in all FX products. GTX also operates GTX Swap Execution Facility (SEF), which currently supports NDF trading.
| Aug 2016 | Total Volume | ADV | |
| ECN + SEF | 150,060 | 6,524 | |
| Swap Dealer | 72,593 | 3,156 | |
| Total | 222,653 | 9,681 | |
| % Change vs. July 2016 | Total Volume | ADV | |
| ECN + SEF | -14% | -21% | |
| Swap Dealer | 46% | 33% | |
| Total | 0% | -9% | |
| % Change vs. Aug 2015 | Total Volume | ADV | |
| ECN + SEF | 0% | -8% | |
| Swap Dealer | 14% | 4% | |
| Total | 4% | -5% |