Thomson Reuters FX volumes fall 26%

The average daily volume traded in November also dropped 7.5 per cent from the previous month. Volumes traded dropped to $111 billion, from $120 billion in October and way below the $150 billion recorded in November 2011.

Trading volumes at EBS, a rival platform owned by interdealer broker ICAP, declined 28 per cent in November from a year ago. But volumes in the EBS platform rose from a month earlier.

Market players say low volatility in currency markets and increased job cuts by banks around the world have weighed on trading volumes. Frustration with high-speed computer algorithms operating on the major dealing platforms also contributed to the decline.

Thomson Reuters also publishes volumes on FXall since completing the purchase of that electronic foreign exchange platform in August. Average daily volumes at FXall rose to $95 billion in November from $82 billion a year ago and $94 billion in October. ■