Thomson Reuters announced today its FX trading metrics for the month of October 2013, showing declines in both its FX Spot volumes and in FXall’s volumes from last month.
Thomson Reuters FX Spot average daily volumes (ADV) were just $97 billion in October. The figures were a multi-year low, as volumes fell 11.8% from $110 billion in September 2013, and down 19.1% from $120 billion in October 2012.
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Meanwhile, FXall’s ADV fared better as trading decreased only by 4.5% in October 2013, to $106 billion from $111 billion in September. Compared to the same period in 2012, ADV grew 12.7%.
EBS, Thomson Reuters’ competitor, a few days ago reported a 5% fall in volumes to a multi-year low of its own. After a strong first half of the year, public venues have experienced a rapid decline in volumes due to year lows in volatility among major currencies. Affecting volatility has been a retreat on speculation of when FED tapering will take place. As a result, both currencies and fixed income trading volumes have declined.