Retail brokerage firm Pepperstone had its biggest day in the company’s history on Thursday.
According to a social media post by an account manager at the Aussie-based broker, Pepperstone executed over 1m trades in a single day.
Notional trading volume at the firm for the period also exceeded $27bn.
As readers probably don’t need reminding, markets tanked on Thursday after US President Donald Trump announced a set of wide ranging global tariffs that are likely to have major ramifications for the global economy.
Volatility nearly always drives more volume at brokers, with traders looking to take advantage of faster moving markets. It also means brokers can match flow more easily or benefit from stop outs.
Although we are yet to see it filter out into the financials of publicly traded companies in the sector, it is plausible the last three months have been very good for the industry as a whole.
At least one other broker that TradeInformer is aware of also had its largest trading day in history earlier this year, also due to market volatility. It’s possible yesterday was even better.
