PrimeXM’s Monthly Volume Goes above $1 Trillion for the Third Time in a Row

PrimeXM, an FX trading industry technology provider, released on Friday its trading volume report for August 2021, noting that its monthly volume surpassed $1 trillion for a third consecutive month. According to the press release, it represented a 23% increase on a yearly basis in trading activities, compared to the last year’s figure of $868.08 billion.

Also, the metrics showed that the average daily volume (ADV) for August hit $48.42 billion, whose crowded day in terms of volume for the period was August 4, with around $61.98 billion in turnovers. “The total number of trades in August was 27.15 million, which is an over 12% YoY improvement comparing to last year’s 24.25 million trades,” the report noted.

The above figures correspond to all the data gathered from PrimeXM’s four major Data Center Data Center A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more Read this Term locations. One of them, LD4, hit $828.25 billion in national trading volume for the period, which was 4% above July’s record, PrimeXM commented. Furthermore, over $119.26 billion passed through the NY4 data center of the FX trading technology provider, followed by the TY3 data center, which processed $117.82 billion.

FX Turnover for August

About the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term market’s turnovers, PrimeXM noted: “XAUUSD undoubtedly remained as the most popular trading instrument, with $292 billion in notional value traded in August. EURUSD kept 2nd place with $142.2 billion and index US100 has replaced GBPUSD being the 3rd most traded instrument with $114.4 billion.”

For July, Prime XM recorded a trading volume of above $1 trillion, as noted before. The average daily volume (ADV) for the period throughout the FX technology provider came in at $47.26 billion, which echoed the yearly growth, but dropped marginally by 0.12 percent month-over-month. Additionally, the official announcement outlined that the highest trading volume on the period was recorded on July 8, when $66.68 billion worth of instruments were traded.