One of the most prominent interdealer brokers, Thomson Reuters, has released its monthly average daily FX volumes for November 2014, which include matching, FXall and the Thomson Reuters SEF as a combined calculation, with a downturn in all business units compared with October’s buoyant figures
For the month of November, all spot FX, forwards, FX options and non-deliverable forwards at Thomson Reuters amounted to $347 billion, which is considerably down from October’s $374 billion, and a distinct decrement from the $418 billion achieved in September this year.
As far as spot FX average daily volume is concerned, October’s $120 billion figure manifested itself during November as an 11.7% decrease over decrease over the average daily volumes of $135 billion achieved in October, which were in turn short of September’s stellar $144 billion.
As a result of the 7.4% decrease in total average daily volumes in November over those of October, and the downturn from September’s results which were the best results so far this year across the company’s combined operations, November’s $347 billion represents a return to relatively similar figures that the company has experienced for the majority of the year until it spiked in September.
The moot point with regard to November’s trading volumes at Thomson Reuters is that November this year represented a month in which trading activity across many institutional and retail firms has either remained level compared with the buoyant October volumes experienced industry-wide, which have been satisfactory despite falling short of the healthy figures generated in September, however Thomson Reuters overall volumes and FXall spot FX volumes have indeed fallen into the category of companies which have experienced minor downturns.
This dynamic was reflected in rival platform EBS during November, whose volumes increased over September and October, whilst October’s volumes were not replicated or improved upon at Thomson Reuters.
For the official announcement from Thomson Reuters, click here.