EDX Markets, an institutional crypto trading venue with a central clearinghouse, had record volumes on its US spot crypto market as it prepares to launch a perpetual futures venue in Singapore.

Jamil Nazarali, chief executive of EDX Markets, told Markets Media that the growth in spot volumes has outstripped the increase in  market volumes. “Since the end of the third quarter and the US election we have seen incredible growth and there is strong sentiment in the market about the future regulatory environment,” he added.

EDX provides separate quotes  for institutions and retail intermediaries and said it has traded and cleared $39.8bn of member volume since the start of this year. In November EDX said it facilitated record volume with members trading over $685m in a 24-hour period. Volume in the month-to-date has reached $5.8bn.

This article originally appeared on Markets Media. Read the full article here.