Reuters FX Volumes Slump in August

Reuters, a dealer to dealer venue that executes predominately commonwealth base currencies has had a major slump in FX volumes

Reuters, a dealer to dealer venue that executes predominately commonwealth base currencies has had a major slump in FX volumes for the month of August. Its a major decline over the intense volatile that catered for record volumes in summer 2011.

The average daily volume traded in August was $115 billion, down from $166 billion in the same month last year. Volumes were also down 11 percent from the $130 billion recorded in July.

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July and August are considered quiet months for the market as most traders are on vacation. The overall theme of uncertainty has still been prevalent and has been putting pressure on Gold more so than currencies.

Reuters competes against rival EBS, in July 2012 Reuters successfully overtook EBS as the largest FX platform. EBS had a daily trade volume of $137.6 billion in July 2012.

Reuters claim to be the leader in FX was strengthened as they look set to purchase ECN broker FXall.

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