PrimeXM Starts 2021 with 34% YoY Trading Volume Jump

PrimeXM, a provider of forex trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term technologies, released its metrics for January 2022, reporting a total monthly trading volume of $1.19 trillion and thus closing another month above the $1 trillion mark.

Trading demand handled by the platform’s 4 data centers also increased significantly. January’s total volume jumped by 13 percent from the cyclical dip in the previous month and a solid 34 percent growth year-over-year.

As always, the London data center Data Center A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more Read this Term, LD4, handled most of the trades with $923.07 billion in notional trading volume, which was 8.35 percent higher than the previous month. Tokyo remained in the second position, handling $143.10 billion, while the New York data center processed $118.20 billion worth of trades.

The Singapore data center, which PrimeXM deployed in July 2021, is still in its infancy stage and handled trade volumes worth only $1.85 billion, but the figure is steadily growing.

Strong ADV

The average daily volume (ADV) on the platform came in at $56.49 billion for the month, which is a 23.73 percent increase month-over-month and 4.44 percent year-over-year. The total number of trades executed on the platform was 32.48 million, which is 15 percent higher compared to the last year’s figure.

Coming to the products, XAUUSD remained the traders’ favorite with $304.4 billion in notional value traded with this instrument alone. That was 25.65 percent of all the volume of that month. The US30 instrument stood second with 14.18 percent of all demand and $168.2 billion in absolute volume followed by the EURUSD pair with $151.8 billion.