Gold Activity Leads Advance in PrimeXM Trading Volumes for July

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 July 2020, PrimeXM reported an average daily volume (ADV) of $40.84 billion, which represented a jump of three percent month-on-month from $39.54 billion reported back in June.

In terms of total turnover at PrimeXM, the last month showed $939.35 billion in monthly trading volume, which was eigh percent higher month-on-month from $869.77 billion in June 2020. Of this figure, trading on Gold instrument XAUUSD accounted for 23 percent or $217.5 billion of the overall traded volume. That also marks a substantial growth of 42 percent compared to June as the gold price has continued to make new highs.

The total number of trades, however, decreased by nearly four percent over a monthly basis, coming in at 27.37 million transactions compared to 28.31 million in June.

Other business highlights show that major FX pairs EURUSD and GBPUSD remained as the most popular trading instruments, only behind the XAUUSD, with $169.3 billion and $123.6 billion in monthly turnover.

London LD4 was the strongest across its three major data center locations, with 76 percent of trades exchanged hands there, more than $713 billion in notional value. The other 2 major Data Centers in TY3 and NY4 recorded a monthly trading volume of $119.08 billion and $106.70 billion, respectively.

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.