FXall enjoys its first ever month as the #1 Forex ECN in September
This was a long time coming, and not really unexpected…. Forex ECN FXall reported that September forex volume metrics hit $111 billion daily — edging out parent Thomson Reuters’ $110 billion and rival ICAP EBS’ $81 billion to claim for FXall its first-ever crown as the #1 Forex ECN.
The $111 billion figure is also FXall’s second-best ever result, second only to June’s blowout $123 billion.
By contrast, rival EBS’ $81 billion September figure is just 3% above its worst-ever result (dating back eight years) seen in August.
To better understand the market shift here, we take a quick look two years back to October 2011. FXall did $67 billion of daily volume in Oct ’11 — its best-ever result at the time — but (much) less than half what Thomson Reuters ($151 billion) and EBS ($161 billion) were doing at the time. FXall and its management team led by Phil Weisberg — now running all of Thomson Reuters’ FX liquidity businesses — has indeed come a long way.