PrimeXM reports 33% MoM growth in XAUUSD for August

Swiss-founded technology company PrimeXM revealed its trading volume statistics for August, 2020.

PrimeXM is a technology provider in the finance sector focusing on providing aggregation software, ultra low-latency connectivity, institutional grade hosting solutions and high-end MT4/MT5 bridging and white label solutions.

Average Daily Volume Hits $41.33 billion

During August 2020, PrimeXM has registered a total of $868.08 billion in monthly trading volume across the 3 Data Center locations, an MoM 7.6% decease comparing last month’s trading activities.

The Average Daily Volume (ADV) in August was $41.33 billion, which represents an MoM 1.2% increase on ADV. The highest daily trading volume of the month was recorded on 11 August with $57 billion turnovers. The total number of trades in August was 24.25 million.

Other business highlights show that 76% of the overall traded volume was consistently registered in our Data Center located in London LD4 on a monthly basis, close to $660 billion in notional value. The other 2 major Data Centers in TY3 and NY4 recorded a monthly trading volume of $105.29 billion and $102.88 billion, respectively.

XAUUSD is the Most Traded Instrument

XAUUSD remained as the favorite instrument of traders, total trading volume has reached $288.7 billion which represented a substantial growth of 33% compared to July and the highest so far in 2020. Major FX pairs EURUSD and GBPUSD continued to be the most popular trading instruments following XAUUSD with $151 billion and $97.6 billion.

Earlier this month, PrimeXM have just released new features on XCore,a powerful Pricing & Execution engine.