The three main OTC FX platforms have now reported their end of year Dec 2013 volumes.
All three platforms saw falls in daily volumes in December, with Reuters Matching and EBS both recording multi-year lows, with EBS 12mth average vols dropping below that of FXAll for the first time.
Reuters: Vol off 11.5% to $92bln/day, the lowest since vols were published going back to Jun 2010, and some $12bln lower than Nov’s $104bln, and -9.8% lower YoY, and 12mth ave vol running at $118bln/day
EBS: Vol off 10.7% to $71bln/day, the lowest since vols were published going back to Jan 2006, and some $8.5bln lower than Nov’s $79.5bln, and -22.7% lower YoY, and 12mth ave vol running at $105bln/day
FXall: Vol off 7.4% to $100bln/day, and some $8bln lower than Nov’s $108bln, and unchanged YoY. However, the 12mth ave vol running at $107bln/day, and for the first time FXall 12mth ave vols have exceeded those of EBS.
** Note FXall volumes have been revised upwards to $111bln in Dec. See next post for coverage here