An industry wide rebound in volumes during the month of June has been confirmed by the latest numbers released by Thomson Reuters and its own FXall division which reports results separately. Both entities recorded a month-on-month increase with numbers at Thomson Reuters rising by 8% to $94 billion in average daily volumes (ADV), while the multi-dealer FXall platform has recorded an all-time high of $141 billion, which is higher by 11% from the month of May.
The European Central Bank and the Bank of England have been the most active triggers for volatility during the month of June. Both have announced new monetary policy courses, which have somewhat surprised the markets and brought higher trading interest towards the otherwise dormant foreign exchange market.
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Volumes at the Thomson Reuters’ platform have continued to lag behind FXall, with the latter now closing in on the record month of June last year, when we saw $147 billion in ADV.
Commenting in a company statement Thomson Reuters’ global head of foreign exchange Phil Weisberg has stated that “expectations in the FX market were that trading volumes would be subdued due to the extended period of low volatility. Our FX platforms nevertheless traded a robust average $235bn daily throughout June.”