According to Thomson Reuters February report – published March 10 – which summarizes the FX market activity, average daily volumes recorded by FXall (unit responsible for Forex trading in Reuters) slightly decreased compared to January’s results.
ADV in February 2014 was $122 billion. This gives the annual growth of 10%, but on a monthly basis the result is $1 billion worse (0.8%). Compared to the results achieved by other dealers, Thomson Reuters really can have a reason to smile. Last month was not the best for the industry and FX brokers recorded serious declines.
Less trading days guilty?
In terms of FX Spot trading, ADV amounted to $113 billion. This shows a decrease of $5 billion compared to January (2.4%). However, in comparison to the results of last year, decline is much more pronounced – 17.5%.
Phil Weisber, Global Head of Foreign Exchange in Reuters in a official press release explained the worse results in fewer trading days and the Chinese New Year. He said – that if not these factor, the TR situation will prove to be far more favorable.
Chinese New Year led to increased CNH volumes
Wesiberg also noted that in addition to monthly declines in FX trading, CNH reported record results – now it is the second most popular pair on the company’s trading platform.
