FXSpotStream, which provides a multibank FX aggregation service for spot FX trading, released its operational metrics for March 2021, showing an excellent monthly jump of 10.2 percent of the average trading volume (ADV). In absolute terms, the ADV for the month came in at $54.67 billion.
However, on a year-on-year basis, the ADV remained 12.4 percent lower. March had 23 trading days, and the revenue number shows the demand from all streaming and matching products.
Second-Highest Monthly Volume
Last year, the trading volumes on FXSpotStream and most of the other trading venues touched record numbers last year with the Covid-spurred market volatility. The total trading volume of the platform peaked in March 2020.
Despite the yearly dip, the total trading volume on FXSpotStream, with more than $1.25 trillion, remained the second-highest in its operational history. In fact, it was the second month that the monthly trading volume on the platform surpassed the $1 trillion mark.
Forex trading demand on FXSpotStream is showing a solid uptrend with a few monthly dips. And, the spike of last month’s trading, without any significant market-moving incident, has given a solid boost to the platform’s business.
Established in 2011, FXSpotStream is a bank-owned consortium. Along with its services in the spot forex market, the platform has extended services in the derivatives market.
The solid revenue numbers came when the platform was already expanding its business and services. Earlier this year, Finance Magnates reported that the platform will add several FX Algo strategies, along with FX Allocation services, which will be offered via its API from the second quarter of this year.
Additionally, the company has been bolstering its team and made several key hires in recent months.
