FXSportStream has announced positive results in its average daily volume (ADV) for October. The New Jersey-based company demonstrated resilience and growth, showcasing its ability to adapt to evolving market conditions.
In October, FXSportStream’s total average daily volume (ADV) increased by 2% month-on-month (MoM), reaching an impressive $67.8 billion. The spot ADV, a significant component of the company’s trading, experienced a 1.14% MoM jump to $52.8 billion, while the “Other ADV” category reached $15 billion.
This performance stands in stark contrast to the preceding month of September, where the company’s spot ADV was $52.2 billion, and the “Other ADV” category stood at $14 billion. The total ADV for September amounted to $66 billion. FXSportStream’s ability to maintain and even increase its ADV is a testament to its stability and adaptability in the face of changing market dynamics.
FXSportStream ADV Shows Resilience Amid Market Changes- October
Looking back to August, FXSportStream encountered a decrease in ADV, which fell to $60.8 billion. This dip followed two consecutive months of rising figures, mirroring a broader trend in the institutional forex market. Notably, August brought mixed results for the company’s spot forex transactions among institutional investors, with a predominantly downward trajectory.
In terms of total trading volume, FXSportStream recorded $1.39 trillion in August, marking an increase compared to July. However, it’s crucial to note that August had more trading days, with investors having 23 days to place their orders, in contrast to 21 in the previous month.
The value of spot ADV experienced a drop from $52.5 billion in July to $48 billion in August. Meanwhile, the “Other ADV” category witnessed a modest boost, increasing from $12.5 billion to $12.7 billion. However, this uptick was not sufficient to offset the declines in the spot market volumes during that period.
FXSpotStream announced in August that it was preparing for a change in leadership. Jeff Ward, the Global Head of Electronic Brokering Services at CME Group, is set to take the reins as CEO starting in January. This transition follows the departure of the company’s Founder, Alan Schwarz, earlier in the year.
LiquidityMatch, the parent company of FXSportStream, has confirmed that Jeff Ward will assume the role of CEO, with his tenure commencing on the first day of 2024. In the interim, Tom San Pietro, the Chief Technology Officer of FXSportStream, will continue to oversee the company’s operations until the end of the year.
FXSportStream’s ability to navigate market fluctuations and the upcoming change in leadership position the company for continued success in the evolving world of forex trading.
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