KCG announced today that its ECN FX trading unit, KCG Hotspot, will begin to publish daily volume reports of trading on the platform. The daily reports are in addition to the firm’s monthly FX results which have been posted by the venue over the last few years. According to KCG Hotspot, they believe the daily data brings additional transparency to the market which will benefit customers.
Explaining the advantages, John Miesner, Managing Director, Global Head of Sales at KCG Hotspot, stated to FortuneZ, “When we began publishing monthly volumes a few years ago, the client feedback was extremely positive.” He added, “Adding daily reporting of volumes to our monthly reporting was a natural progression, which was client led. The clients felt that having greater visibility into KCG Hotspot volumes would enable them to make trading adjustments a lot quicker, thus resulting in greater profitability.”
Speaking about trends in this year’s low volatile market, Miesner mentioned that they were seeing more interest in Eastern European pairs, specifically singling out the USDTRY, EURTRY and USDRUB. Although Miesner did add that the Ukraine crisis is causing ruble volumes to contract.
Among other currencies, Miesner stated, “USDZAR and USDSGD have also consistently been in our top 20 traded pairs each month”. Asked about whether KCG Hotpsot would begin to publish daily volumes of individual pairs, similar to data available from the CME, Miesner answered that there are no current plans for it, but that it is being discussed internally.