14 March 2005 â FXall, the worldâs leading online foreign exchange platform,
today announced that daily trading volumes have for the first time exceeded $35
billion. The rise in volumes has in part been driven by a strong increase in activity by active traders like hedge funds, CTAs and investment advisors. In January, trading by these clients, who now account for almost a quarter of FXallâs volumes, rose 112% versus the same period last year.
Trading volumes and adoption by active traders on FXall continue to accelerate. The platform is seeing increased uptake by clients in this segment following the launch of its latest release, Altair. Altair adds QuickFill to FXallâs established offering for active traders, which includes QuickTrade, automated prime brokerage messaging and completely confidential trading across more than 190 currency pairs.
Active traders are playing an increasingly prominent role in the foreign exchange markets. They typically regard foreign exchange as a source of alpha, rather than a hedge for other investments, and place a high priority on best execution. FXall has invested heavily in services to help these participants optimize trading performance.
Philip Weisberg, CEO, FXall, commented: "FXallâs record volumes reinforce our
position as the number one multibank foreign exchange platform. A major driver
behind this growth has been an increase in activity from hedge funds, CTAs and
investment advisors. Active traders are among the most sophisticated participants in the FX markets, demanding deep liquidity, flexible trading options and comprehensive post-trade processing functionality. We are delighted that more and more of these clients are choosing FXall as the best solution for their trading requirements."