Thomson Reuters’ FX Volumes Undergo Decline in July Following Yearly Highs

FX volumes were once again pointed lower in July, paring the majority of June's strong performance.

Thomson Reuters (NYSE:TRI) has reported its FX trading volumes for the month ending July 2016, having undergone a decline over a monthly basis in terms of spot and total product volumes, according to a Thomson Reuters statement.

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Thomson Reuters seems to have joined the ranks of other institutional FX venues during July that have seen a pullback in volumes. The decline is hardly surprising given the abating of volatility directly following the Brexit referendum that has now reverted back to a summer lull. Thomson Reuters did however avoid paring all of last months gains in its volumes, though a pullback was evident across any margin.

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During July 2016, Thomson Reuters’ average daily volume (ADV) of its FX products, including spot, forwards, swaps options and non-deliverable forwards (NDF), yielded a total of $359 billion, which was lower by a margin of -8.9% MoM from $394 billion in June 2016 – this figure was higher against July 2015, rising tepidly by a factor of 1.7% YoY from $353 billion.

Looking deeper into the latest tranche of data at Thomson Reuters, July 2016’s total of $359 billion of ADV was disaggregated to $97 billion ($116 billion in June 2016) in terms of FX spot volume, with $262 billion for other products ($278 billion in June 2016).

Earlier this month, Thomson Reuters made headlines after it extended its services to help advance the use of blockchain technology in the financial services industry – the group’s latest initiative will see it join a composite of leading financial institutions that are already working to utilize the technology that helps underpin Bitcoin into financial markets.

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