Edgewater Markets LLC has recently announced its volume results for the first half of 2020 for its precious metals product line. According to the company’s statement, volumes have soared substantially during the first six months of the year.
A provider of foreign exchange and precious metals optimisation software, Edgewater Markets revealed on Saturday that volumes for its precious metals product line have increased significantly in H1 of 2020, jumping signficantly from the first half of 2019.
Edgewater Markets expansion spurs volumes
Across the first six months of this year, Edgewater Markets executed $500 million worth of spot gold and silver volumes daily. This increase was driven by the company’s expanding low latency matching engine, market-making software and front end execution system.
With servers in LD4, NY4, and TY3, Edgewater offers spot gold and silver to its institutional clients globally. The company provides its customers with either a front-end execution interface or an API connection for access to their precious metals’ ecosystem.
Commenting on the uptick in volumes, Emanuel Georgouras, head of Edgewater’s European businesses said in the statement: “Our ultra-low latency network and unique pricing have been well received as a new player in the precious metals market globally, and we are poised for continued growth in the space.
“We look forward to partnering with those in the asset class to further optimize trade efficiency and transparency to bring about unique solutions to the bullion market’s needs.”
Edgewater Markets is a provider of electronic forex workflow management solutions. Established in 2009, the company now provides FX and precious metal services to more than 300 global institutional clients.
“Our technology has evolved to the point where we are able to keep up with the fastest moving markets, and our growth with precious metals is a confirmation of that,” added Mike Johnson, Edgewater’s lead developer based in London in the statement.