The average daily volume of PrimeXM took a slight nosedive from   $43.76 billion in November to $39.38 billion in December, representing a 10% fall month-on-month for 2020.

Like other retail and institutional platforms, PrimeXM was not the only affected brokerage, as many other platforms experienced a similar drop last month. The client’s activities were mostly unstable, which was different from last year when the COVID-19 pandemic led to unprecedented volatility across different asset classes.

6% drop in December turnover

On a similar note, the company’s total turnover fell to $866.46 billion after hitting an impressive $1.5 million milestone back in March last year, and $918 billion in November. The December turnover represents almost 6% drop from the previous month’s record.

However, there were more trades in December than the previous month, with a 25.17 million trading turnover compared to 25.07 million in November.

For December, the highest daily volume was recorded on December 21 with $56.26 billion.

For other highlights of the month, the gold investment for PrimeXM, XAU/USD, had a lower turnover for December with an 11% decrease at $226.7 billion. In August, the bullion activity was at its highest with a $288.7 billion turnover.

London trading volume takes the lead

The XAU/USD trading pair took the highest trading percentage with a 26% overall trading volume in December. Coming in second and third are the major FX pairs EUR/USD and GBP/USD, with a turnover of $150 billion and $146 billion respectively.

But among all FX pairs in December, EUR/USD maintained the top position with 17% of all traded volume. The volatility in the stock market saw the increase of major US indices.

Among the three major data centers, LD4 was the strongest with $645 billion worth of trades for previous months’ metrics. This accounts for 77% of the total trading volume., and is placed in comparison with $103 billion in Tokyo and $118 billion in New York.

PrimeXM has also been very active in other departments. IT appointed a new chief technology officer (CTO) last month to lead its software development roadmap and drive its evolving product portfolio.

However, the appointment was made in-house with the promotion of Constantinos Orphanides to the new role. Orphanides has had an illustrious career in the gambling industry before being hired by PrimeXM in April 2019 to head its product development affairs.

His present appointment as a chief technology officer of the company will put him in charge of PrimeXM’s overall technology strategy, according to the company’s announcement last month.