The June quarter turned out to be an exciting period for most online trading and investment firms as investors flocked the capital markets in pursuit of investment opportunities. The likes of CME Group, Saxo Bank, CMC Markets, and Integral registered an uptick in average trading volumes in their platforms.
CME Group ADV Increase
Derivatives giant CME Group had an impressive second quarter with average daily volume clocking highs of 17.6 million contracts. Open Interest at the end of the June quarter stood at 101 million contracts.
Saxo Bank Gloomy Q3 Outlook
Saxo Bank trading volumes came under pressure at the start of the second quarter before improving significantly as it came to a close. Likewise, it is now one of the multiple providers to report an uptick in monthly trading volumes. Throughout June, the firm averaged a trading volume of about $161.4 billion up to $1.7 billion.
Looking ahead, Saxo Bank warns that Q3 looks exceptionally fragile, with the VIX indicator indicating a volatile summer. The firm expects more pain ahead, especially in the equities market, as Q2 earnings reveal the real damage caused by the COVID-19 pandemic.
CMC Markets Net Operating Income Growth
CMC Markets, on its part, continued to see solid trading activity in the June quarter even as volatility tapered off. The firm continued to see solid business performance compared to a year ago. Conversely, the firm reported net operating income in excess of £102.3 million. Client income retention was up 82% as stockbroking net trading revenue benefited from current market conditions.
IG Limited Customer Deposit Growth
IG Limited a newcomer in the U.S forex industry enjoyed booming business taking a bigger chunk of the overall retail funds that were up 3% to $571 million. The firm racked up $20.8 million in customer deposits, in May, a 31% increase from the previous month.
Integral ADV Slowdown
Integral, a provider of comprehensive FX products, saw its average daily volumes increase 7.7% in June compared to May. However, it represented a 3.6% decline from the same period last year. The average daily volumes across Integral platforms totaled $35.1 billion.
PrimeXM Shrinking Trading Volumes
PrimeXM’s saw business shrink slightly in June as monthly trading volumes fell 1.68% to about $869.77 billion. The average daily volume was down 6.15% to $39.54 billion compared to $42.12 billion reported in May. The total number of trades totaled 28.31 million.