In a company announcement, Thomson Reuters released its total average daily volume (ADV) numbers for foreign exchange trading across both its platforms – FXall and Thomson Reuters Matching. September trading volumes totaled $417.5 billion, which is higher by 17% MoM and 33% YoY.
Spot FX transactions accounted for 144.2 billion, which is higher by 35% over last month’s number.
The company reports that this is the highest monthly total, based on aggregated trading volumes including both platforms of the company, a reporting methodology which was implemented in August.
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The company’s FX pre-trade strategist, Ronald Leven commented, “The surge in equity market volatility had a strong ripple effect across all markets – especially foreign exchange.”
“Also, with equity markets looking more vulnerable, the market became sensitive to global political pressures – especially the Ukraine and the Middle East – which had been ignored through much of the year. This has contributed to the record trading volumes we saw last month,” he added.
The month of September has seen dramatically higher trading volumes across the foreign exchange space, as after 21 year lows in G7 currencies volatility were printed earlier this year, the currency market was rocked hard by the ECB embarking on a new round of easing.