Major platforms have reported July FX volumes, with double-digit falls across the board, with Thomson Reuters (TR) spot vols down -14.5% to $98.8bln/day – a record low, whilst taken in total all Reuters FX products are down -11.4%, although still up some 7.6% on a year ago. Overall spot volumes across all platforms are down between -16% and -21% compared to a year ago.
This drop in FX volumes is also reflected in CLS settlement system which reported a -13.7% drop in trades submitted to their platform at $4,710bln/day down from $5,460bln/day in June, although still up 5.4% on a year ago, whilst the number of trades submitted for clearing is down -20.2% over the year.
From this month, TR has changed their reporting methodology, reporting aggregated volume for Reuters Matching, FXall and the Thomson Reuters SEF. Only splitting out volumes for FX spot and aggregating all other products covering: forwards, swaps, options and non-deliverable forwards traded on those platforms. FXall volumes shown in previous months post here.
Individual platform volumes are as follows: Continue reading