Currency trading falls on Thomson Reuters platforms

The average daily volume traded in September was $133 billion, down from $176 billion in September 2011 but an increase from the $115 billion recorded in August.

Volumes have fallen from year-ago levels as some traders, frustrated by the rise of high-speed computer trading, seek alternatives to the two main interbank dealing platforms, Thomson Reuters and EBS.

Average daily foreign exchange spot volume traded on the EBS trading platform dropped 39 per cent in September to $111.9 billion from year-ago levels, its parent company ICAP said on Thursday.

Thomson Reuters has started to publish volumes in FXall after completing the purchase of the electronic foreign exchange platform in August. Average daily volumes at FXall rose to $105 billion in September from $91 billion a year ago. It was also up from $84 billion in August. ■