PrimeXM has recorded an increase in its monthly trading volume for May. The FX trading industry technology provider revealed that it had a 6.45% year-over-year (YoY) increase for the previous month.
An improved performance from the previous month
This is in stark contrast with its trading volume the previous month when it recorded a 15.18% decrease from $1.06 trillion to $897.59 billion. The April decline in trading demand came after the firm had a massive influx the previous month. But in May, trading activities spiked for PrimeXM, with the trading volume for the month hitting $941.64 billion.
Based on Average Daily Volume (ADV), the company recorded a 10% month-over-month increase, hitting $44.84 billion in the process.
Based on the report, the highest daily trading volume in May was on the 16th day with a $59.53 billion trading volume.
The company also recorded 27.57 million total trades in the same month PrimeXM also revealed that more than 76% of the total monthly traded volume came from its Data Center located in LD4, which held $719.19 billion in nominal value. On the other hand, the Data Center in NY4 accumulated the second-highest value, which has been maintained for the past three months.
XAU/USD is the highest trading Instrument in May
The report also revealed that traders were majorly interested in the XAU/USD trading instrument in May.
PrimeXM said the total trading volume for XAU/USD reached $290 billion in May, which represents a 12% increase month-over-month. EUR/USD came second while GBP/USD was the third most traded pairs, with both of them having a combined trading volume of $232 billion.
The platform also revealed that the ADV for the month was $40.8 billion, which is lower than the $46 billion ADV recorded in March. In the same month, the platform hit 27.03 million trades, which is a 21% drop month-over-month.
PrimeXM’s key business is providing institutional grade hosting solutions, connectivity, ultra-low latency, and cutting-edge aggregation software for clients. The company is active on a global scale and has partnered with many players in the industry.