Average daily trading volumes across PrimeXM data center locations surged by over a third to a new record last month amid broad growth across different asset classes, the Swiss-founded technology company said today.
During September 2021, PrimeXM reported an average daily volume (ADV) of $55.78 billion, which represented a jump of 15 percent month-on-month from $48.42 billion reported back in August. Year-over-year, the ADV figure rose 31 percent.
In terms of total turnover at PrimeXM, the last month showed a record $1.23 trillion in monthly trading volume, which was 16 percent higher month-on-month from $1.06 trillion in August 2021. The figure is a new all-time high, besting the previous record set back in March 2020 at $1.15 trillion.
Of this figure, trading on Gold instrument XAUUSD accounted for 23 percent or $287.4 billion of the overall traded volume. US30 index has climbed 3 places and replaced EURUSD as the 2nd most traded instrument with $249.2 billion which was a significant jump from the previous month’s $98.8 billion.
The total number of trades also spiked by nearly 12 percent over a monthly basis, coming in at 30.37 million transactions compared to just 27.15 million in August.
Other business highlights show that London LD4 was the strongest across its three major data center locations, with 80 percent of trades exchanged hands there, more than $982 billion in notional value.
Another $138.27 billion has passed through NY4 and the data center in TY3 has processed $106.76 billion. PrimeXM’s newly established SG1 data center has seen more than $28 million in trading activities in its second month since inception.
We last reported on PrimeXM last month when the company partnered with FX data and analytics provider Tradefeedr to deliver its data analytics to users of XCore platform.
The new accord further promotes Tradefeedr‘s offering, which already counts major institutions such as Goldman Sachs, UBS and XTX Markets among its subscribers, as part of an ongoing expansion.
Founded in 2018 by two former hedge fund managers, Tradefeedr caters to various market participants seeking data-driven decision making. It uses data science to aggregate, analyse and consolidate the FX trading information into a global database by allowing liquidity providers to submit data on behalf of buy-side clients.
PrimeXM’s flagship platform, XCore, offers low latency order routing and pricing engine, giving the institutions the opportunity to connect to a wide range of liquidity providers. Furthermore, XCore is installed in PrimeXM’s infrastructure in Equinix data centers, allowing for the efficient management of the entire brokerage business in a centralized environment.
In addition to their primary product XCore, PrimeXM offers hosting services in the most popular data centers used by the FX industry, such as Equinix LD4, NY4, and TY3, which enables clients to house their trading systems and algos in co-location to their execution engine and liquidity providers.