Thomson Reuters FXall Sees Record Volumes in Feb For Second Month
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By Clare Connaghan
The revival in foreign-exchange trading volumes continued in February, with Thomson Reuters Corp.'s (TRI) recently-acquired currency trading platform FXall reporting record volumes for the second consecutive month, while average daily volumes on Thomson Reuters' main FX spot trading services were up almost 9% on the month, the company said Thursday.
In a statement Thursday, Phil Weisberg, the global head of foreign exchange at Thomson Reuters, said increased volatility in the market had driven the rise in volumes.
'The dollar was boosted following a meeting of the Federal Open Market Committee which indicated optimism in the U.S. economy, sterling gained ground then declined following Bank of England discussions on inflation and interest rate measures to stimulate the U.K. economy, while Japan's policy for further monetary easing has sent the yen into retreat, driving it down almost 20% since November last year,' Mr. Weisberg said.
Last month, average daily trading volumes on FXall rose 26% on the year to $110 billion, which was also up 1% on January. Thomson Reuters said this represented the average amount traded daily on FXall's main trading services.
Thomson Reuters said that trading volumes across its main FX Spot trading services--Thomson Reuters Dealing, Matching and Reuters Trading for FX--averaged $137 billion daily in February, broadly stable compared with a year earlier.
The rise in volumes are in line with rival ICAP PLC's (IAP.LN) interbank dealing system EBS, which were up 18% on the year in February and up 5% on the month. Average daily volumes for last month were recorded at $149.0 billion compared with $126.7 billion a year earlier. In January volumes were recorded at $141.3 billion.
Alexandra Fletcher contributed to this article.
Write to Clare Connaghan at clare.connaghan@dowjones.com
(END) Dow Jones Newswires
March 07, 2013 05:59 ET (10:59 GMT)
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