February trading volumes have been reported by CLS Group today, compiled from across its members in terms of the average daily volume (ADV) in foreign exchange transactions submitted to CLS during the month of February 2014, which dropped nearly 5% to 1,150,663 month-over-month (MoM).
In addition to the decrease in the number of transactions in February, when compared to the prior month, CLS reported that Average Daily Values (ADV) during February (representing the total value of matched instructions) totaled $5.15 trillion, and down 2.7% from $5.29 trillion the month before, a drop of $140 billion MoM.
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This decrease further confirms the industry-wide trend that February has shown to be a slower month, with some participants attributing it to the few trading days that had been afforded, while others said it was due to lower volatility in certain major currencies such as the Japanese yen, for example.
Further details were added to this post following the initial publication by Forex Magnates.
CLS Group recently announced the appointment of Ken Harvey to the role of Chairman of the Board, succeeding the current chairman, with the role effective in October of this year.