Thomson Reuters, and their recent acquisition FXall have reported April FX trading volumes on their trading platforms. At Thomson Reuters, average daily volumes (ADV) fell slightly to $130 billion from $131 billion in March. The figures matched volumes from the same period last year. At FXall, combined ADV of their Relationship and Active Trading units was $108 billion, just below record figures that were achieved in both February and March.
Despite the slight decrease in volumes, Thomson Reuters held onto the leading spot among publicly reporting FX venues, just edging ICAP’s EBS which reported $128.3 ADV.
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Within the FX ECN sector, firms are seeing both opportunities and increased competition. On one hand, regulations in both the US and Europe are forcing more financial firms to utilize multi-dealer platforms to mitigate counter-party risk; which benefits ECN platform providers. On the other hand, competition is becoming stiffer with the launch of new venues such as ParFX from Tradition and LMAX Interbank.