Swiss-founded technology company PrimeXM, a provider of FX bridge aggregation and institutional hosting solutions, today revealed strong metrics in terms of average daily volumes, total monthly turnover and number of transactions.
During March 2020, PrimeXM reported an average daily volume (ADV) of $48.22 billion, which represented a jump of six percent month-on-month from $45.68 billion reported back in February.
In terms of total turnover at PrimeXM, the last month showed $1.15 trillion in monthly trading volume, which was 25 percent higher month-on-month from $915 billion in February 2020. Of this figure, trading on Gold instrument XAUUSD accounted for 20 percent or $223.6 billion of the overall traded volume.
Total number of trades also spiked by nearly 60 percent over a monthly basis, coming in at 41.8 million transactions compared to just 26.2 million in February.
Among the popular traded assets, Indices combing 3 top US stock indices and German Index represented more than 17 percent.
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Other business highlights show that London LD4 was the strongest across its 3 major data center locations with 73 percent of trades exchanged hands there, more than $844 billion in notional value.
Taking a year-to-date perspective, the charts indicate a major shift in trading activity between mid-February to mid-March amid higher volatility, fueled by the coronavirus pandemic.
Founded in 2010, PrimeXM’s key business focus is providing aggregation software, low-latency connectivity, hosting solutions, and high-end MT4/MT5 bridging and white labels. The Swiss-based technology company also offers a MetaTrader 5 Gateway low-latency connectivity to over 120 providers of forex and CFD liquidity.
In addition to their primary product XCore, PrimeXM offers hosting services in the most popular data centers used by the FX industry, such as Equinix LD4, NY4, and TY3, which enables clients to house their trading systems and algos in co-location to their execution engine and liquidity providers.
The company’s flagship platform, XCore, offers low latency order routing and pricing engine, giving the institutions the opportunity to connect to a wide range of liquidity providers. Furthermore, XCore is installed in PrimeXM’s infrastructure in Equinix data centers, allowing for the efficient management of the entire brokerage business in a centralized environment.