FX volumes drop 10 percent in slow December trading - CLS
LONDON Jan 13 (Reuters) - Average daily volumes in the foreign exchange market fell by nearly 10 percent in December from November, data from FX settlement system CLS showed.
The total daily volume of instructions submitted to CLS, combining settlement and aggregation services, was 988,674, down from 1,094,020 in November.
The average daily value of transactions also dropped, by 0.4 percent to $4.87 trillion.
The drop in volumes reflects a fall in daily forex trading on Thomson Reuters dealing platforms and that of its main competitor, EBS.
According to data released from EBS's parent inter-dealer broker ICAP, volumes on EBS were 23 percent lower in December 2013 at $71 billion from a year ago and down from $79.5 billion from November.
Average daily spot volumes on Thomson Reuters were $92 billion in December, compared with $104 billion in November. That's the lowest since Thomson Reuters started compiling the figures in January 2010, and together with September last year, only the second month when average daily volume has been below $100 billion.