Traded volumes on Reuters Spot Matching platform broke records on August 16, with $233 billion changing hands. This is $39 billion more than its previous record on July 27, 2007.
Throughout the week of August 13, Reuters reported high levels of activity on Spot Matching, and says that the total US dollar volume traded during the week was up 80% on the average volume traded throughout the first half of 2007.
A spokesperson for Reuters says: “Whilst the average increase in volume was 80%, this varied significantly by currency – Turkish lira growth was 220%, while Australian and New Zealand dollars were 146% and 168% respectively. Cable growth amounted to 53%.”
This follows record FX volumes reported by CME the week prior when FX markets experienced record electronic trading volume with 1,126,852 futures and options, reflecting notional value of $134 billion. CME said the notional value of all FX contracts traded at CME in August averaged $83.6bn, up 68% from the year before.