FXall, the world's leading foreign exchange platform, today announced record trading volume of more than $90 billion in a single day.
Average daily volume on the platform for September was up by more than 44% versus the same period in 2006.
The increases were driven by a combination of new clients coming onto the platform as well as growth from existing clients including asset managers, corporations, banks, broker-dealers and hedge funds. In particular, FXall saw strong growth in trading activity by the investment community, which now accounts for more than 50% of volumes traded over the platform.
Two key factors contributed to volume growth. Regulatory requirements for greater control and transparency mean clients naturally gravitate to FXall as a platform offering a comprehensive audit trail and best execution. In addition, FXall continues to anticipate the changing needs of the rapidly growing FX market with the proactive development of new products and enhanced services.
Phil Weisberg, Chief Executive Officer of FXall, said: "The sustained increase in trading volumes on FXall reflects our commitment to innovation and the continuous development of our client offering. As FX trading volumes continue to rise, more and more traders are turning to online platforms to meet their increasingly complex needs. We look forward to even stronger growth going forward as we continue to extend and enhance the range of services we provide".