FX trading industry technology provider, PrimeXM reported a strong correction in the monthly trading volume for April 2021. The figure came in at $897.59 billion, which is 15.18 percent down from the previous month’s $1.06 trillion.
The decline in the trading demand came after the company recorded a massive influx in March 2021. The trading volume for that month was only behind the record that the platform witnessed exactly a year before in March 2020, and the second time it crossed the iconic trillion-dollar mark.
In addition, the company detailed that the average daily volume (ADV) for the month came in at $40.80 billion, compared to March’s $46 billion. The platform handled 27.03 million trades in the month, which dropped by more than 21 percent month-over-month.
PrimeXM offers its services from major data centers located in London (LD4), New York (NY4) and Tokyo (TY3). The servers in London handled most of the trades with $673.42 billion of the total volume, executing 20.70 million orders. The NY4 remained the second, handling $126.75 billion in volume, while TY3 handled $97.42 billion. The trend across the data centers remained the same for the second consecutive months.
Following the Industry Trend
Founded in 2010, PrimeXM’s key business focus is providing aggregation software, low-latency connectivity, hosting solutions and high-end MT4/MT5 bridging and white labels. Additionally, the Swiss-based technology company offers a MetaTrader 5 Gateway low-latency connectivity to over 120 providers of Forex and CFD Liquidity .
Moreover, the platform revealed that gold instruments topped the demand, generating almost $262 billion, which was followed by two FX pairs EURUSD and GBPUSD with $148.7 billion and $111.1 billion, respectively.
The drop in PrimeXM’s overall trading volumes in April falls in line with the wider industry trend. Finance Magnates earlier reported on the volumes of Cboe and FXSpotStream as both saw a similar downward trend.
