Second tier FX volumes reported weak volumes figures in Mar 16, with Hotspot showing a -19% fall to $26.4bn/day, whilst FastMatch reported a smaller decline of -9% to $10.1bn/day.
Table showing Second Tier platforms: Hotspot, Fastmatch vols for Mar 16
Meanwhile the only top-tier platform to report is The CME group, which showed Mar 16 volumes for The CME of $114bn/day, down -4.2%. Full analysis of the top-tier platforms next week, by which time Reuters and EBS will also report their volumes as well.
The charts below show the volumes comparisons between Hotspot and FastMatch. The bottom chart shows the gap between Hotspot and FastMatch. The Mar decline in Hotspot vols has caused the difference between the two platforms volumes to drop back from the top of the downward sloping channel.