August 3, 2018 / 4:52 PM / 3 months ago

UPDATE 1-FX trading volumes flat in July, U.S. bond activity falls - NEX Group

(Updates with details on Treasuries turnover)

LONDON, Aug 3 (Reuters) - Average daily trading volumes of currencies in July remained broadly flat compared with the previous year, NEX Group said on Friday, despite an uptick in tensions over global trade that rattled forex markets.

Meanwhile, daily turnover of U.S. Treasuries decelerated to its slowest level in more than five years due to low volatility in the bond market, NEX data showed.

NEX, which runs one of the largest FX trading platforms, said average daily traded volumes rose to $81.9 billion in July from $81.6 billion in 2017.

The volumes are only for cash market trading.

Electronic trading platforms enjoyed a surge in currency volumes to record highs earlier this year, although the growth appears to have slowed considerably in July.

NEX said trading in European repo was up 10 percent from a year ago, while daily turnover in U.S. repo and Treasuries slipped 1 percent and 14 percent, respectively, from the year before.

Daily Treasuries trading volume averaged $125.4 billion last month, down 20 percent from June. This marked the most sluggish daily pace since $120.5 billion in April 2013, NEX data showed.

NEX provides fixed income trading technology through its BrokerTec platform, which is the market leader for electronic trading for Treasuries and many European fixed-income products.

In March, U.S. exchange operator CME Group agreed to buy NEX for $5.5 billion. (Reporting by Tom Finn in LONDON Additional reporting by Richard Leong in NEW YORK Editing by Tommy Wilkes)

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