PrimeXM’s Monthly Trading Volume Rises 6.45% YoY for May 2021

FX trading industry technology provider, PrimeXM, released its monthly trading volume report for May 2021, highlighting a 6.45% year-over-year increase. Specifically, the monthly trading volume posted a total of $941.64 billion for May, which is up compared with the last year’s figure of $884.61 billion, considering all the data from its three major data centers.

Per the Average Daily Volume (ADV), it was $44.84 billion in May, which is almost a 10% month-over-month improvement. According to the report, the highest daily trading volume of the month was May 16, where $59.53 billion turnovers were recorded.

Total trades for the month were 27.57 million, said the FX trading technology provider firm. “Over 76% of the total monthly traded volume was recorded in our 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 located in LD4 – $719.19 billion in notional value. The Data Center in NY4 has remained in 2nd place consecutively for the third month with $140.41 billion, which saw a significant 10.67% MoM growth,” it added.

Figures in 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 Space

In the FX sphere, XAU/USD remained the most popular instrument traded in the last few months, said PrimeXM. In fact, its total trading volume hit $290 billion in May, representing an increase of 12% month-over-month. Additionally, EUR/USD and GBP/USD were respectively the second and third most traded pairs, with a combined volume of $232 billion, the report highlighted.

Finance Magnates reported in the monthly trading volume for April 2021 in PrimeXM that it firmly corrected during such a month. The figure came in at $897.59 billion, which is 15.18% down from the previous month’s figure of $1.06 trillion.

Furthermore, the company detailed that the 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.