Daily trading volumes at FXall, the world's leading online foreign exchange platform, have topped USD 43 billion.
The rise in volumes has been driven by increased activity across all FXall's client segments - active traders, asset managers, corporations, banks and broker-dealers - as new clients sign up and existing clients increase the volumes they execute on FXall.
"As a leading provider on the FXall platform, we are excited to see this growth and we look forward to seeing that continue," says Sanjay Madgavkar, co-head, fixed income and FX commerce with Citigroup North America. "We are committed to providing the top quality FX products and services, including highly competitive 24-hour pricing across a wide range of currencies, to our clients. Our participation on FXall is an important part of that strategy."
Jesper Ronald Petersen, First Vice President, Head of Global Flow, Solutions and E-Trading, at Danske Bank, commented: "As a leading Scandinavian liquidity provider, we know that our clients value FXall's robust trading, workflow and post-trade capabilities. In turn, we have benefited from increased business and a steady stream of high-quality, non-correlated FX flow from FXall's diverse customer base. We look forward to continuing to grow our business on FXall through consistent tight pricing in a broad range of currency pairs."
Philip Weisberg, CEO, FXall, adds: "FXall's record volumes are proof of our success in meeting the diverse needs of clients across the institutional foreign exchange marketplace. Our end-to-end workflow and automation services have been as important as our trading services in winning new business. Thanks to the diversity of our client base, we have been able to sustain strong and steady growth despite cyclical fluctuations in trading activity by individual market segments.
"Our broad customer franchise enables us to deliver non-correlated flow to liquidity providers. This results in tighter prices and deeper markets for clients - the building blocks of a successful foreign exchange platform. As more institutional clients move their FX operations online, the breadth and depth of our offering puts us in a strong position to capitalize on future growth in the market."
Background notes: FXall is the leading portal for online foreign exchange trading, offering customers foreign currency trade execution, access to research and straight through processing. By combining streamlined workflow, competitive FX prices and a complete audit trail, FXall delivers improved control and cost savings at every stage of the deal lifecycle.
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FXall is an independent company with offices in New York, Boston, London, Tokyo and Singapore.
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