Gain Capital GTX Reports Dim Volumes as ECN and SEF Activity Stalls in October

GAIN Capital’s institutional unit GTX has reported its latest monthly total trading volumes for October 2017, having seen a stagnation in its overall turnover figures on a month-over-month basis.

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During October 2017, GTX’s ECN, SEF and swap dealer facilities transacted $322.9 billion, which was lower by 6.0 percent month-over-month from $357.7 billion back in September 2017. Across a yearly interval, however, this figure is higher by 34 percent on a year-over-year basis from its equivalent in October 2016.

Looking at its average daily volume (ADV) figure, the CFTC -registered swap dealer saw $14.7 billion for October 2017, shedding 10 percent month-over-month from $16.3 billion per day in the month prior. Looking over a yearly timetable, GTX’s ADV jumped by 28.0 percent on a year-over-year basis.

October’s volumes decline was largely attributed to GTX’s ECN and SEF segments which fell by 10.0 percent month-over-month to $250.5 billion – the decline in ADV was bigger, dropping by 14.0 percent compared to the previous month. This loss was inverted however across the Swap Dealer segment, as GTX’s secured a gain of 15 percent while its ADV also rose by 10.0 percent month-over-month.

Looking at these figures relative to the year prior, October 2017’s performance was much better, with increases across ECN and SEF transactions coming in at 37 percent year-over-year. The activity of GTX’s CFTC-registered swap dealer unit also ticked up last month, having secured 24 percent increase relative to the turnover from a year earlier.