November 8, 2012 / 4:10 PM / in 5 years

FX trading on Thomson Reuters platform falls in October

LONDON, Nov 8 (Reuters) - Daily spot foreign exchange trading volumes on Thomson Reuters dealing platforms fell by 23 percent in October from a year earlier, company data showed on Thursday.

The average daily volume traded in October was $120 billion, down from $155 billion in October 2011 and a decrease from the $133 billion recorded in September.

Trading volumes at EBS, the other main interbank dealing platform owned by interdealer broker ICAP Plc, also declined in October.

Data released on Wednesday showed average daily foreign exchange spot volume traded on EBS in October dropped 46 percent from year-ago levels to $92.6 billion.

Market players said low volatility in the currency markets was weighing on trading volumes. Frustration with high-speed computer algorithms operating on the major dealing platforms was also contributing to the decline.

Thomson Reuters has started to publish volumes on FXall after completing the purchase of the electronic foreign exchange platform in August.

Average daily volumes at FXall rose to $94 billion in October from $86 billion a year ago.

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