December FX volumes publically reported by firms continue to be released. A short while after EBS published its 10% decline in Month over Month figures, Thomson Reuters has released volume numbers for its FX Spot trading division and for FXall. For the month, Thomson Reuters average daily volume dropped to $102 billion from $111 billion in November and $114 billion in the same period last year. At FXall, ADV rose to $100 billion from $95 in November. (FXall figures include both its Relationship Trading and Active Trading divisions)
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The drop at both EBS and Thomson Reuters contrasts to positive figures at both the CME and ICE which posted December gains. A possible reason for the exchange outperformance may be attributed to the growth of use of FX trading among cross asset systematic traders (See Q3 report on FX Futures). With the Japanese yen in a two month downtrend, it has led to an increase of momentum traders entering the trade.