Digital Vega Enjoys Record Volumes in October

Digital Vega, a provider of multi-dealer FX option trading services, reported record-high volumes for the month of October, both on an annual and monthly basis. The company said in a press release that its performance demonstrates the changing nature 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 options market, with technological innovation spearheading this change.

Tech Drives Market Change

Overall trading volumes came in 30 percent higher on a monthly basis in October, and the annual increase was 59 percent. During October, Digital Vega also reported its strongest single trading day as well as the greatest number of active users.

“Increasing levels of interest and adoption from the global banking community”

Average daily trading volumes since the start of the year have risen to $19 million from 10.5 million, with ticket numbers up by 45 percent, the executive chairman of Digital Vega said, adding: “We are also seeing increasing levels of interest and adoption from the global banking community; a greater focus on cost saving and efficiency means that they can now instantly access on-demand competitive Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term from 13 major FX banks that is increasingly better than that available through traditional channels such as the voice broker community.”

The company noted that a growing number of traders are now moving towards specialist forex options providers, benefiting from the enhanced offering of complex option pricing and execution. Digital Vega also pointed out the transformation in the electronic trading sector, with the most recent example being the deal between ICAP and Tullett Prebon.

Innovation in Spotlight

Digital Vega is ready to ride the wave of fintech innovation, aiming to maintain its place among the leading innovators in the industry, the company said. It will soon release a fully automated staging and execution engine that will aid the management of large quantities of small options trades. The new product will supplement its FIX API, a buy-side solution where Digital Vega has seen increasing use lately.

The company added that its Medusa platform is also becoming increasingly attractive for sell-side market makers who are utilizing the detailed data it offers to adjust their pricing in a timely and more adequate manner.