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PrimeXM’s Monthly Trading Volume Rises 6.45% YoY for May 2021

PrimeXM’s Monthly Trading Volume Rises 6.45% YoY for May 2021

FX trading industry technology provider, PrimeXM, released its monthly trading volume report for May 2021, highlighting a 6.45% year-over-year increase. Specifically, the monthly trading volume posted a total of $941.64 billion for May, which is up compared with the last year’s figure of $884.61 billion, considering all the data from its three major data centers.

Per the Average Daily Volume (ADV), it was $44.84 billion in May, which is near a 10% month-over-month improvement. According to the report, the highest daily trading volume of the month was May 16, where $59.53 billion turnovers were recorded.

Total trades for the month were 27.57 million, said the FX trading technology provider firm. “Over 76% of the total monthly traded volume was recorded in our Data Center located in LD4 – $719.19 billion in notional value. The Data Center in NY4 has remained in 2nd place consecutively for the third month with a $140.41 billion, which saw a significant 10.67% MoM growth,” it added.

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Figures in the Forex Space

In the FX sphere, XAU/USD remained as the most popular instrument traded for the last few months, said PrimeXM. In fact, its total trading volume hit $290 billion in May, representing an increase of 12% month-over-month. On the same line, EUR/USD and GBP/USD were respectively the second and third most traded pairs, with a combined volume of $232 billion, the report highlighted.

Finance Magnates reported in the monthly trading volume for April 2021 in PrimeXM that it firmly corrected during such a month. The figure came in at $897.59 billion, which is 15.18% down from the previous month’s $1.06 trillion.

The company also detailed that the ADV for the month came in at $40.80 billion, compared to March’s $46 billion. The platform handled 27.03 million trades in the month, which dropped by more than 21 percent month-over-month.

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Eurex Reports Strong Growth in Derivatives Contracts during May 2021

Eurex Reports Strong Growth in Derivatives Contracts during May 2021

Eurex, an international derivatives exchange and a member of the Deutsche Börse Group, released its trading numbers for May 2021 today. The exchange reported a total of 137.4 million derivatives contracts in the last month, a number which is up by 13% compared to 121.8 million traded derivatives contracts in May 2020.

According to the numbers, European interest rate derivatives and European equity derivatives spiked by 37% and 41% respectively. However, a drop of nearly 8% was reported in European equity index derivatives contracts during May 2021.

“Eurex’s OTC Clearing business saw IRS volumes grow in terms of both notional outstanding, up 15 percent from 18,960 billion to 21,440 billion EUR, and average daily cleared volume, which grew 25 percent from 17 billion to 21 billion EUR compared to the same month last year. Overall clearing notional outstanding grew 15 percent, while overall average daily cleared volume dropped 33 percent across the same period. Eurex Repo saw drops in monthly term adjusted volumes; of 46 percent in GC Pooling and 12 percent in the Repo Market,” the exchange mentioned in the official announcement.

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In April 2021, Eurex saw a jump in its average daily cleared volume. The exchange recorded a substantial growth in its OTC Clearing Business.

Eurex in 2021

Since the start of 2021, Eurex has announced several partnerships and launched new products to increase its offerings. Earlier this month, the exchange introduced new derivatives for expansion in Asia. Eurex launched futures on the MSCI China Tech 100 Index along with futures and options on the MSCI Hong Kong Listed Large Cap and the MSCI China Hong Kong Listed Large Cap indexes. Additionally, the exchange announced a partnership with Korea Exchange in March 2021 and mentioned that the Korean benchmark index (KOSPI 200) futures will be listed on the Eurex/KRX Link.

“This growth in May comes after a mixed few months in 2021 due to comparisons with the unprecedented volatility in early 2020,” Eurex added in the press release.

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Exclusive: FDCTech Closes $35 Million Genesis Financial Acquisition

Exclusive: FDCTech Closes $35 Million Genesis Financial Acquisition

Trading technology provider, FDCTech informed Finance Magnates that it has entered into a purchase agreement for the acquisition of Genesis Financial, a financial services company with operations in wealth management and direct-to-customer lending, thus closing the major deal.

The companies officially agreed on the deal with the submission of an 8-K form with the US Securities and Exchange Commission (SEC) last Wednesday. The confirmation came after FDCTech signed a non-binding agreement for the acquisition earlier this year.

The deal received a green light after the board of both the companies agreed on the terms. In addition, Genesis shareholders voted to favor the acquisition deal.

FDCTech will acquire 100 percent equity interest in Genesis Financial in the agreed stock-for-stock deal. Per the agreed terms, Genesis’ existing shareholders will receive 70,000,000 shares of FDCTech, which at $0.50 per share price are valued at $35 million.

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Commenting on the acquisition, FDCTech Co-Founder and CEO, Mitchell Eaglstein, said: “We are pleased to achieve this transformative milestone for the Company (FDTech), its employees, shareholders, and the clients we serve.”

A Strategic Deal for Global Dominance

FDTech, which has an extensive presence in the Americas, is expecting to expand its reach to new markets with the closure of this deal as Genesis’ business is concentrated in the Asia-Pacific region.

Genesis offers advisory services to $540 million funds under advisement and managing $62 million funds under management through its network of 114 licensed advisers. It is expecting over $15 million in fees from wealth management and tax/accounting advisory business.

“Our new GFNL colleagues should be commended for their efforts, along with those of our team, to achieve this turning point for the Company. As a result, the new direction will create a fintech driven well-diversified financial services powerhouse with the focus on high growth financial categories, with a global footprint and access to US capital markets,” Eaglstein added.

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