Foreign exchange trading volumes rose to a yearly peak in February across Integral’s trading platforms as increased volatility across financial markets led to greater activity on the institutional FX venue.
Average daily volumes topped $50.4 billion last month, which is up 10 percent compared with the figure from the previous month, which was reported at $45.8 billion. Also, Integral’s ADV rose 26.3 percent compared to the same period in 2020.
Reported ADV represents volumes traded across the group’s entire liquidity network, including TrueFXTM and Integral OCXTM, in aggregate.
The FX technology company has recently signed Spuerkeess, Luxembourg’s state savings bank, to deploy its eFX workflow automation and trading technology. The state-owned bank has chosen Integral’s BankFX™ solution, which is used by banks and other financial institutions to provide cloud-based automation software across the entire FX workflow.
This partnership allows Spuerkeess to benefit from full automation of its entire eFX workflow, including control of more than 10,000 currency pairs available on its system. Additionally, the bank can trade with clients over multiple distribution platforms, either through a fully branded single dealer trading platform or integration with multi-dealer platforms.
Integral Launched the 7th Iteration of FXI
On the technology side, Integral has recently upgraded all aspects of the technology stack for its relationship-based trading platform, FX Inside (FXI).
The upgraded FX liquidity aggregation solution addresses the business needs of brokers, banks, institutional and algorithmic trading clients. Specifically, the web-based trading solution is now available through HTML5 browser and mobile devices, and it enables users to offer a single dealer platform (SDP) to its customers.
This actually catches up with a major shift occurring in the FX market demand for SDP platforms driven by customers’ need for asset class diversification, post-trade support, research and market data.
A cloud-based environment included in the solution allows for complete customization, as well as RFS and ESP trading in spot, outrights, swaps, NDFs, precious metals and CFDs.