FXall and Thomson Reuters see volumes decrease, confirming institutional slump in October

However their leadership ahead of ICAP has been solidified with FXall numbers still being higher y/y

Not unexpectedly FXall and Thomson Reuters reported lower daily volumes for the month of October. FXall and their parent Thomson Reuters both reported decreases in daily trading volumes during the month with $106 bln and $97 bln respectively (see chart below). The numbers solidify their leadership in the space with ICAP EBS reporting its lowest numbers in years as we reported earlier this week.

October THR Volumes

The month on month numbers of the parent company’s Thomson Reuters FX Spot volumes have declined 12% month on month and while the decline year on year was 19%, that was compensated by FXall’s rise of 11% year on year and a smaller month on month decline of 4.5% to $106 bln.

October FXAll Volumes

These numbers could be confirming our thesis that institutional volumes slump was widespread. Whether or not it was due to the US government shutdown or simply because of lower FX volatility remains to be seen. Retail traders were not left scratching their heads however — they kept trading steady during October, generating volumes as usual. What we’ve seen so far from retail forex leaders FXCM and Saxo Bank have been steady, if unspectacular, forex trading volume increases during October.

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

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