Glenn Stevens Acknowledges Pick-Up in Volatility Since the Start of 2018
The brokerage industry is thriving during times of high market volatility as interest on behalf of traders increases. The trading volumes reported by brokers and ECNs worldwide in the first month of the year are confirming that the market is shifting gears, as more activity is driving brokerage revenues higher.
The latest confirmation of the shift in the market comes from the CEO of GAIN Capital Glenn Stevens. He commented on the current market environment while presenting at the Credit Suisse 19th Annual Financial Services Forum.
“It is encouraging to see active traders embrace recent market volatility, as uncertainty around the direction of the equities markets is leading customers to consider alternative trading venues,” the CEO of the parent of Forex.com and City Index said.
Elaborating on the first monthly volumes report from GAIN Capital for the year, Mr Stevens, added: “As evidenced in our January 2018 monthly metrics report, client engagement has been strong in the early part of the year, with retail OTC and institutional average daily volume up 38 percent and 33 percent, respectively, over the same metrics in December.”
“While macroeconomic uncertainty and increased market speculation creates a positive operating environment for GAIN, we remain focused on positioning the Company for growth in both low and high volatility markets,” the CEO of GAIN concluded.
Market ranges across major asset classes have widened in recent weeks as daily moves in FX are materially bigger than throughout 2017. The stock market’s turmoil in the last two weeks, is adding even more heat to the volatility story.