Average daily volumes for October on Thomson Reuters FX dealing platform dropped to $120 billion from $133 billion in September and $155 billion the same period last year. The decline in volumes tracks the overall trend within institutional FX trading for October. Thomson Reuters cited traders in its network reporting that the continued decline in volatility and a drop of algorithmic trading as a cause of the drop in trading activity.
Elsewhere, Thomson Reuters also published figures for recently acquired FXall. The OTC FX ECN saw its ADV figures hit $94 billion for October, as it overtook rival FX trading venue EBS which reported ADV $92.6 billion for last month. In a rarity for the sector, FXall also saw improvement versus 2011 figures as its October 2012 volumes were 9.3% higher than last year’s figure of $86 billion.
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Overall, the combined venues continue to increase their market share at EBS’s expense. Also, after previously experiencing volume gains before its acquisition, the FXall unit appears like a solid purchase for Thomson Reuters and is set for further increases.