Hotspot FX reports September year-on-year growth
John Miesner, managing director and global head of sales at Hotspot FX in Jersey City, said the year-on-year volume rise was due to a big increase in client acquisition.
He said the platform also made a number of key upgrades, such as increased order types, between the fourth quarter of 2009 and Q1 this year. These include good-until-cancelled, stop-loss, take-profit and market.
September's average daily volume was also up 9% from $31 billion in August this year. Miesner attributed this to a more volatile market in September than in August and the closing of the summer period.
The most active currency pair was EUR/USD, accounting for just over 35% of volume, although it has steadily decreased its market share from 38.42% in July. Miesner attributed this to a large drop-off in volatility between July and September.
Notable volume increases occurred in GBP/USD, which was the second most active pair, and USD/JPY, the third most active pair.
Average daily volumes for the third quarter were $32.5 billion, compared with $24.2 billion for the same period last year.
In terms of regional split of volumes, the Americas generated 44.73%, Europe 45.42% and Asia accounted for 9.85%.
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