LONDON May 19 (Reuters) - Average daily volumes in the global foreign exchange market sank by half a trillion dollars in April compared to a month earlier, dipping below the $5 trillion mark for the first time this year, data from FX settlement system CLS showed.
There were actually more transactions run through the system, used almost universally by the banking industry to process or settle trades, up to 1,277,911 in April from 1,155,507 in March and 1,150,663 in February.
But in line with the general trend shown by other major participants in the market, overall volumes fell to $4.79 trillion a day from $5.35 trillion a month earlier and $5.0 trillion in April a year ago.
Daily spot foreign exchange trading volumes on Thomson Reuters fell to the lowest since December last month while those on rival platform EBS were down by almost half. (Reporting by Patrick Graham; Editing by Catherine Evans)