PrimeXM Starts 2021 with Impressive FX Volumes, LD4 Dominates

PrimeXM, a technology provider of 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 trading industry, has published its trading metrics for the month of January, showing a positive growth trend for its services and across the industry.

The total monthly trading volume on the platform came in at $883.26 billion, 1.94 percent higher than December’s $866.46 million. This figure represents the volume handled by the company’s three major data centers in London, New York and Tokyo.

Despite the marginal increase in total volume, the average daily volume for January was at $44.16 billion, compared to the previous month’s volume of $39.38 million. That was an uptick of 12.13 percent. Also, the total number of trades increased by 12.1 percent month-over-month with 28.22 million.

PrimeXM maintains three major data centers: LD4, NY4 and TY3. The one in London handled 71 percent of all reported volumes last month. The other two data centers routed $128.23 billion and $121.37 billion in volume, respectively.

London’s data center executed 20.63 trades, while TY3 and NY4 processed 4.21 million and 3.38 million orders, respectively.

Though the January numbers were impressive, it still lagged behind March, when the demand soared to its peak and several other months of last year.

Demand for Bullion Is Strong

Founded in 2010, PrimeXM’s primary focus is to provide cutting edge aggregation software, ultra-low-latency connectivity, institutional grade hosting solutions, high-end MT4/MT5 bridging and white labels. According to the company, more than 250 financial institutions globally choose PrimeXM as their technology partner.

Furthermore, the Cypriot firm detailed that gold instrument, XAU/USD, dominated to be traders’ favorite. According to the shared statistics, 28 percent of the overall monthly trading volume was concentrated on XAU/USD. In absolute terms, $246.6 billion in notional value of the pair was traded.

EUR/USD and GBP/USD currency pairs also remained popular among the traders with $140.3 billion and $124.5 billion respectively, in volumes.