Currency trading volumes hit a record in 1H 2018 - CLS

LONDON, July 19 (Reuters) - Average daily foreign exchange trading volumes surged to a record $1.84 trillion in the first half of 2018, as market volatility in February and June fuelled trading activity, according to data from trading platform CLS.

Daily turnover was up by a fifth from the same period last year and by a quarter from the second half of 2017 as money managers increasingly moved to established platforms.

“Greater volumes also indicate increased engagement by the buy side in how they manage foreign exchange settlement risk,” CLS said in a statement.

Other trading platforms including NEX Group and Thomson Reuters, the parent company of Reuters News, have also reported a big rise in trading volumes for 2018 as volatility picked up from multi-year lows and emerging market currencies have come under pressure thanks to a surging dollar. (Reporting by Saikat Chatterjee Editing by Alison Williams)