Integral, a major forex trading technology provider, reported an average daily volume (ADV) of $45.7 billion for October. The figure came in 10.7 percent lower than ADV reported for the previous month, along with a 9.5 percent decline from the same month of the previous year.
Established in 1993, Integral primarily provides cloud-based SaaS FX workflow solutions and targets a broad range of buy-side forex market participants, including banks, brokers, asset managers and hedge funds.
“Clients leverage the deep and diverse FX liquidity available through our platforms within an integrated environment,” Integral explains.
The reported monthly ADV was generated across all Integral platforms, including TrueFX, the spot trading venue offered by the company, and Integral OCX, the ECN service for institutions.
Despite the monthly decline in the trading demand, the company believes that the overall growth in the market volumes over the years “is testament to high-quality technology infrastructure that market participants are seeking out when conducting business in the foreign exchange, precious metals and CFD markets.”
Similar Industry Trend
The latest ADV showed timid results and came after the figures recovered in September following the summer lull in the trading markets. Other institutional forex trading venues also reported a similar month-over-month trend, but their yearly figures remained strong.
FXSpotStream, a multibank FX aggregation services provider, reported a monthly ADV of over $69.1 billion in September, a monthly decline of 5.8 percent but a yearly increase of 37 percent. Cboe FX reported an ADV of $42.6 billion for October, while Deutsche Bourse’s 360T posted $23.7 billion. Though the figures on the platforms declined 7 percent and 13 percent, respectively, month-over-month, they strengthened by 25 percent and 7.2 percent, respectively, year-over-year.
Meanwhile, Integral is strengthening its executive positions with several external hires. The company recently onboarded Judy Goh as a Managing Director and the Head of Sales for Asia Pacific. It also bolstered its sales team by hiring Paul Spillman and Roland Schilling as Directors.
