Thomson Reuters FX volumes fall 26 pct year-on-year in Nov
LONDON Dec 7 (Reuters) - Daily spot foreign exchange trading volumes on Thomson Reuters dealing platforms fell by 26 percent in November from a year earlier, company data showed on Friday.
The average daily volume traded in November also dropped 7.5 percent from the previous month. Volumes traded dropped to $111 billion, from $120 billion in October and way below the $150 billion recorded in November 2011.
Trading volumes at EBS, a platform owned by interdealer broker ICAP Plc and a competitor to the Thomson Reuters platform, declined 28 percent in November from a year ago. But volumes in the EBS platform rose from a month earlier.
Market players say low volatility in currency markets and increased job cuts by banks across the globe has weighed on trading volumes. Frustration with high-speed computer algorithms operating on the major dealing platforms was also contributing to the decline.
Thomson Reuters also publishes volumes on FXall since completing the purchase of the electronic foreign exchange platform in August.
Average daily volumes at FXall rose to $95 billion in November from $82 billion a year ago and $94 billion in October.