EBS Spot, the leading electronic FX broker, has announced a record of more than 1,000 FX deals done in just 60 seconds.
The record figures came on 6 August, as traditionally sleepy summer markets reacted to US economic data. The news saw a significant increase in FX trading activity among banks on the EBS Spot system.
At the peak of the day’s trading activity, the EBS Spot system recorded 1,088 done deals in one minute from 12.30–12.31 GMT, a high for the system in terms of FX volumes, in what is traditionally known as a quiet period of the year.
EBS Spot also handled USD 3.9 billion worth of trades1 in EUR/USD in the same 60 second period, as more than 250 counterparties traded foreign exchange.
Bill Moran, Chief Operating Officer, EBS said: "Maintaining an orderly market when there is increasing volume at high speeds is a core part of our role in FX. We are particularly confident that we can handle the peaks in the market when they occur.
"There was a lot of activity and movement immediately after the US economic data announcement, but EBS Spot handled it comfortably.
"By the end of the day, volumes across EBS Spot were significantly higher than the average for this time of year and certainly above the EBS Spot consistent average of USD 100 billion."