Thomson Reuters Dec FX volume down 10.5 pct from year-ago levels
NEW YORK |
NEW YORK Jan 7 (Reuters) - Daily spot foreign exchange trading volumes on Thomson Reuters dealing platforms fell 10.5 percent in December from a year earlier, company data showed on Monday.
The average daily volume traded in December also dropped 8.1 percent from the previous month. Volumes traded declined to $102 billion, from $111 billion in November and $114 billion recorded in December 2011.
Trading volumes at EBS, a platform owned by interdealer broker ICAP Plc and a competitor to the Thomson Reuters platform, fell 4 percent from year-ago levels to $91.8 billion.
Market players say low volatility in currency markets and increased job cuts by banks across the globe have 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 $100 billion in December from $79 billion a year ago and $95 billion in November.
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