Asset Managers Boost FXall to Record Volumes
November saw FXall trade more than $22bn in a single day of trading. The total volume traded in November totalled $271bn and average daily volume was $13.6bn. KBC and Lloyds TSB have joined FXall as liquidity providers – bringing the total number of banks integrated to the platform up to 46. The rise in volumes was driven by increased trading from institutional customers, especially asset managers, said FXall. Institutional customers now account for approximately 55 per cent of total volumes, up from 40 per cent earlier this year. Following the rapid rise in take-up and volumes in 2003, the board of FXall has approved investment in system enhancements in excess of $5 million. FXall will also grow its headcount by 15 per cent in 2004. The investment allows FXall to further expand capacity while adding to an already robust continuity of business plan.