Platform FX Volumes Aug14: Strong gains for EBS & Hotspot, lackluster for Reuters


All the major FX platforms reported increased volume figures for August, with EBS leading the pack with a healthy 21.1% rise  to $85.5bn/day and some 8.6% up on a year ago, with Thomson Reuters delivering a more modest 3.2% overall gain and Reuters FX spot with a 8.3% gain after the multi-year lows in July, although still down -3.8% compared to a year ago.

This rise in FX volumes is also reflected in CLS settlement system which reported a 4% rise in the value of trades submitted to their platform at $4,900bln/day up from $4,710bln/day in July, although still up 9.1% on a year ago, with the number of trades submitted for clearing up 11.9%, although still some -5.3% down on a year ago.

As previously mentioned, Thomson Reuters has now 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:

Reuters total: $355bln/day in Aug, up 3.2% on July, and 17.8% up compared to Aug 13 level of $301bln/day.

Reuters Other: $248bln/day in Aug, up 1.2% on July, and a healthy 30.5% up compared to Aug 13 level of $190bln/day.

Reuters Spot: $107bln/day in Aug, up 8.3% on July, although down -3.8% compared to Aug 13 level of $111.2bln/day.

EBS: $85.5bln/day in Aug, up 21.1% on July, and up 8.6% compared to Aug 13 level of $79bln/day.

Hotspot: $28.9bln/day in Aug, up 20.5% on July, and up 3.2% compared to Aug 13 level of $28bln/day.

Individual volume figures for the platforms are summarized below:

(My thanks to Brian at Thomson Reuters for pointing out a few errors in my tables, which have now been corrected!)

FX Platform vol tables Aug 2014

 FX volumes for Thomson Reuters, EBS & Hotspot- Aug 2014

 

Based on the new methodology from TR, we lose the individual flows seen from FXall, with the following picture of TR FX franchise emerging (chart from TR).

Thomson Reuters FX Vols Aug 14

Thomson Reuters FX volumes for Aug 2014

 

Data from CLS Settlement system confirms the  rebound, with volume of trades submitted to the system in Aug up 4% to $4,900bln/day, and the number of transactions submitted up 11.9%.

CLS FX Vols Aug 14CLS Settlement system Volumes for Aug 2014

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