Mixed fortunes for Thomson Reuters spot forex volumes

Volumes traditionally tail off at the end of the year as market participants close their books and take profits. December’s average spot volumes of $91 billion were down 14 per cent from the same month of 2014.

That was just one per cent higher than the three-year low hit in November, according to figures published by the company.

Figures from rival EBS, owned by the world's largest inter-dealer broker ICAP, showed a bigger fall in spot trade. Average daily volumes were down 29 per cent on the year at $74.8 billion and down one percent on the month.

Much of the trading in sterling and dollar bloc currencies like the Australian and Canadian dollars goes through Thomson Reuters platforms. EBS has more euro and yen volume.

The total average daily volume for currency trading across all Thomson Reuters platforms, including forwards, swaps, options and non-deliverable forwards as well as spot foreign exchange, rose six per cent on the month to $337 billion. That was down slightly from $350 billion in December 2014. ■