PrimeXM’s volume hits new all-time high at $1.23 trillion

abdelaziz Fathi

Average daily trading volumes across PrimeXM data center locations surged by over a third to a new record last month amid broad growth across different asset classes, the Swiss-founded technology company said today.

During November 2021, PrimeXM reported an average daily volume (ADV) of $55.92 billion, which represented a jump of 7 percent month-on-month from $52.3 billion reported back in October. The highest daily trading volume of the month was recorded on 26th November with $76.35 billion turnovers.

In terms of total turnover at PrimeXM, the last month showed a record $1.23 trillion in monthly trading volume, which was 12 percent higher month-on-month from $1.1 trillion in October 2021. The figure is a new all-time high, besting the previous record set back in September at $1.22 trillion. ‎It was also up 34 percent from $919 billion in November 2020.

Of this figure, trading on Gold instrument XAUUSD accounted for 30 percent or $367 billion of the overall traded volume. This was the highest point of activity for the yellow metal so far in 2021.

EURUSD turnover climbed in November and replaced the US30 index as the 2nd most traded instrument with $188 billion which was a significant jump from the previous month’s $147 billion.

The US30, otherwise known as the DJ30 derivative contract, took the third position (12.0% of all volume) with $148 billion in monthly turnover.

The total number of trades also spiked by nearly 24 percent over a yearly basis, coming in at 31.84 million transactions compared to just 25.64 million in November 2020.

Singapore data center hits a new milestone

Other business highlights show that London LD4 remains the strongest across PrimeXM’s four major data center locations, with 81 percent of trades exchanged hands there, more than $995 billion in notional value.

Another $131 billion has passed through NY4 and the data center in TY3 has processed $102 billion. PrimeXM’s newly established SG1 data center has seen more than $1.7 billion in trading activities in its fourth month since inception.

PrimeXM’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.‎

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.

Read this next

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

<