FX 2nd tier platform vols Nov 15: Fastmatch & Hotspot vols down over 6% in Nov 15


Volumes continuing to decline with the approach year-end, and in terms of the second tier FX platforms, FastMatch vols fell -6.7% in Nov 15 to $8.4bn/day, following the +15.4% rise in October, although still down -33.2% compared to the Nov 14 level $12.6bn/day. Meanwhile Hotspot saw the third consecutive monthly fall, with vols down -6.3% to $22.4bn/day in Nov 15 (following the -8.6% fall in Oct), and down -31.7% compared to Nov 14.

2nd tier platform vols Nov 15

Table showing Second Tier platforms: Hotspot, Fastmatch vols for Nov 2015

The charts below show the volumes comparisons between Hotspot and Fastmatch. The bottom chart shows the gap between Hotspot and Fastmatch. It appears to still be in a downtrend channel which started in May 13 (as shown by the dotted parallel blue lines), reflecting a narrowing of the gap between the platforms and could break below the trend lines shown in the green box, which would indicate a further weakening of HotSpot relative to FastMatch.

2nd tier platform Chart2 vols Nov 15

2nd tier platform Chart vols Nov 15

Chart showing the gap between Hotspot and Fastmatch spot FX (Hotspot-Fastmatch) vols for Nov 2015


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