FXall, the electronic foreign exchange trading platform, said today that trading volumes passed $9billion in one single day of trading in late December, putting it way ahead of its original business projections. The previous volume record occurred in October, when FXall traded more than $5bn in one day. It was also announced that more than 400 clients have now signed up to trade on FXall.
“These figures have put us significantly ahead of our business plan,” says Phil Weisberg, Chief Executive Officer of FXall. “With the support of corporations and asset managers alike, FXall has now established itself as a trusted and independent benchmark for the industry. Going into 2003, we will strive to perfect our fully automated system for foreign exchange trading, and make sure that it is easily accessible to all market participants.”
Today’s announcement follows the news that FXall has added four new banks – Commonwealth Bank of Australia, Fortis Bank, SvenskaHandelsbanken, and WestLB – to its list of providers. With these additions, a total of 43 banks are now integrated with the FXall system, and are able to deal with their customers in an unlimited number of currency pairs.