After record June, FXall volumes fall by 8% in July.

Forex ECN FXall, which recently agreed to be acquired by Thomson Reuters for $625 million, announced that July trading volumes fell by 8% to $90.6 billion per day, down from a record $98.6 billion in June.

This is now our second signal that trading volumes in the FX world were down significantly in July, after the CME Group reported a 24% decline in its FX contracts business in the month. 

In the LeapRate Retail FX Volume Index, sponsored by Leverate, July and August volumes are typically about 5-10% lower than average due to seasonal issues (i.e. summer vacations in the northern hemisphere), but volatility in July was also somewhat lower than May and June, which saw a 10% and 3% (respectively) increase in global FX volumes in the Retail FX Volume Index.

We should learn more when other Forex ECNs such as ICAP, Knight Capital's Hotspot FX and Thomson Reuters, as well as retail FX leader FXCM, all release July numbers in the coming days and weeks. Stay tuned...

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.