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Thomson Reuters again posts record forex volumes

Thursday 7 March 2013

The revival in foreign exchange trading volumes continued in February, with Thomson Reuters' recently-acquired currency trading platform FXall reporting record volumes for the second consecutive month, while average daily volumes on Thomson Reuters' main spot trading services were up almost nine per cent on the month.

Increased volatility in the market drove the rise in volumes, Phil Weisberg, global head of foreign exchange at Thomson Reuters, said on Thursday.

Last month, average daily trading volumes on FXall rose 26 per cent on the year to $110 billion, which was also up one per cent on January. Thomson Reuters said this represented the average amount traded daily on FXall’s main trading services.

Thomson Reuters said that trading volumes across its main FX Spot trading services – Thomson Reuters Dealing, Matching and Reuters Trading for FX – averaged $137 billion daily in February, broadly stable compared with a year earlier.

The rise in volumes are in line with rival interbank dealing system EBS, which were up 18 per cent on the year in February and up five per cent on the month. Average daily volumes for last month were recorded at $149.0 billion compared with $126.7 billion a year earlier. In January volumes were recorded at $141.3 billion. ■

SOURCE
Fox Business