PrimeXM releases data on trading volumes for November: XAUUSD, EURUSD volumes rebound

PrimeXM, a provider of FX bridge aggregation and institutional hosting solutions based in Switzerland, has released data on trading volumes for November 2020, revealing XAUUSD and EURUSD volumes' rebound.

PrimeXM has recorded a total of $918.90 billion in monthly trading volume in November across the 3 major Data Center locations, which represents a 2.74% MoM increase in trading activities when compared to $894.36 billion back in October. 

In terms of its average daily volume (ADV), PrimeXM reported $43.76 billion. The highest daily trading volume of the month was recorded on 9th November with a $77.8 billion turnover which is the highest daily record in 2020. The total number of trades in November was 25.07 million.

LD4 remained as the busiest Data Center with consistent 76% of the total monthly traded volume recorded – $702.60 billion in notional value. The Data Center in NY4 was in second place consecutively for the second month with $111.40 billion.

More than 27% of overall monthly trading volume was concentrated on XAUUSD, about $254 billion in notional value. The temporary recovery of Gold Price on 9th November has contributed to the highest daily trading volume record with $23.37 billion traded on XAUUSD alone. EURUSD was still the favorite FX pair being traded with close to $130 billion.