A measurement of trading activity that represents the size of the contract
Tick Volume is different from the conventional volume measurement in equities. In equities, each share traded is counted and thus 100 shares will equal a volume of 100. In the forex market however trading is decentralized and it is impossible to keep track of all the amounts and sizes of contracts in a given day. Alternatively, volume is measured in number of tick changes. There is specific combined size of contracts required to affect a tick change. A tick is equivalent to a pip in forex terminology.
