Thomson Reuters and FXall have reported their January figures. For January, Thomson Reuters FX Matching platform registered $126 billion in average daily volume (ADV), a 24% increase from December 2012’s $102 billion ADV number. At FXall, Thomson Reuters recent acquisition, volumes rose 9% month over month from $100 ADV to $109 billion ADV. Figures at FXall include both trading on the firm’s active trading and relationship trading platform. FXall’s volume was new record for monthly ADV at the trading venue.
With figures from the major FX trading venues for January out, EBS is back on the top stop among reporting FX trading venues. During January, average trading volume at EBS was $141.3 billion, followed by Thomson Reuters at $126 billion and the CME with $114 billion. It has been a while since EBS took hold of the top spot, being behind Thomson Reuters in monthly volume for all of 2012. Month over month figures at EBS have been very volatile as the ECN venue has been experimenting with changes such as new dealing rules and the launch of EBS Direct, a relationship based platform. As such, we’ll need a few more months before we can make a claim that EBS is back on the rebound after a poor 2012, but they a good start.
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Beyond traditional spot and futures FX, one area to watch for 2013 are options. With volatility returning to the asset, the CME has seen a sizeable increase in FX options trading with two year plus highs in open interest. Last year we saw Bloomberg add FX options trading on its FXGO trading platform. As such, we won’t be surprised to see other FX launch similar products during 2013 to capture a portion of the growth.