In a busy week of stories , let’s take a glance at the stories that dominated the news cycle in our picks of the week segment.

Has the Bubble Burst for Brokers?

After reporting on record volumes for several forex and CFD brokers in Q1, Finance Magnates covered a series of downturns in the week.

Interactive Brokers’ DARTs Down as COVID-19 Boost Loses Steam

In April, the amount of DARTs were reported at 1.720 million transactions, a fall of 12% MoM from 1.96 million‎. Trading activity at Interactive Brokers LLC (NASDAQ:IBKR) lost some momentum in April with volumes easing. Although April’s figures saw a decline, it had been still the second-best reading ever for Daily Average Revenue Trades (DARTs).

After Hitting $1.2T Milestone, Cboe FX Volumes Nosedive in April

As Finance Magnates reported, Cboe’s institutional spot FX platform disclosed a complete trading volume of $643 billion, down 46 percent on a month-over-month basis.

The decline saw trading volume fall to its lowest level since December 2019 and down 7% on an annual basis.

All in Red: FXSpotStream Reveals Substantial Drop in FX Volumes

Another to suffer from the drop by volumes was FX SpotStream. Activity on FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, dropped sharply last month to its weakest in five months.

The company reported a mean daily volume (ADV) of $34 billion, which is lower on a monthly basis by 45 percent from $62 billion back in March 2020.

TFX Forex Volumes Fall From March Highs in April, Stay Strong YoY

The last of the Finance Magnates reports of falling forex volumes covered TFX. Data from the Tokyo Financial Exchange (TFX) suggests that last month has not been as active as March.

April’s combined trading volume fell by 61.6 percent, but it’s still 68.4 percent higher on an annual basis.

Ripple Reports 87% Decline in XRP Sales for Q1 2020

Dominating the cryptocurrency news in the week was Ripple’s announcement of XRP sales for the primary quarter of the year.

To many’s surprises, Ripple announced a staggering 87% decline for the primary three months of the year. The disappointing figures follow an 80% decline within the final quarter of 2019.


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