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A total volume of $1,433.9 billion changed hands in October, corresponding to an average daily volume of $68.3 billion, the company said in its latest monthly trading report. Total volume traded on HotspotFX has increased 54.5% versus October 2010. Hotspot double counts its turnover, whereas its rivals do not. The platform said it also experienced its highest market share performance in October 2011, accounting for 9.5% of publicly reported volume – up from 8.7% the previous month.
In reviewing FX trading volumes across other major multi-dealer exchanges that publicly disclose data, Hotspot outperformed its rivals in October. The platform managed to maintain record trading volumes experienced in September at a time when other trading venues have all reported a drop off in volumes.
CME and ICE were the worst performers reporting a monthly decline in FX trading volumes by 15% and 32% respectively.
ICAP’s EBS platform, and Reuters reported month-on-month declines of 7% and 12% respectively.
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| Source: Hotspot FX, Knight Capital Group |