Thomson Reuters (NYSE:TRI) has reported its monthly trading statistics and volumes for September 2017, which printed a three-year high of $411 billion per day. The month was characterized by a number of influential factors across global markets, including interest rates and fiscal policies speculation in both the US and Europe, which ultimately helped spark volatility.
Relative to a rather uneventful August, September 2017 proved to yield a far more dynamic market for FX. In the United States a combination of factors ranging from the “Trumpflation trade” to expectations for U.S. interest rate hikes helped spur markets, the company said.
New Economic Calendar Feature Added to FBS Personal Area and AppsGo to article >>
In particular, Thomson Reuters saw a total average daily volume (ADV) of its foreign exchange (FX) products, including spot, forwards, swaps options and non-deliverable forwards (NDF), coming in at $411 billion, an increase of 7 percent year-over-year from $365 billion in September 2016. Additionally, the figure was higher compared to August 2017, marking a gain of 11.9 percent month-over-month from $367 billion the month earlier.
Of the $411 billion, $103 billion was FX spot, the highest since June 2016 and also representing a notable advance over both monthly and yearly intervals. The latest figure reflects a 25.6 percent rise from the $82 billion set back for FX spot volumes in August 2017. On a year-over year basis, spot volumes were also pointed higher after managed to overcome the $94.0 billion reported a year ago – this was a march higher of 9.6 percent year-over-year.
Other transaction types – including forwards, swaps, options and non-deliverable forwards (NDFs) – averaged $308 billion daily, up 8.07 percent from $285 billion the previous month.
The latest performance follows an industry trend, which saw most ECNs and trading venues secure growing volumes in September.