Thomson Reuters has reported a month-on-month decline in overall FX volumes but a rise on spot activity – albeit at a lower pace than other FX trading venue providers.
The firm says that spot FX activity was $101 billion per day, a 6.3% increase month-on-month and a 12.2% increase from November 2015.
By contrast, Thomson Reuters’ OTC rivals all witnessed significant month-on-month and year-on year growth with EBS BrokerTec rising 37% and 52% respectively; Hotspot 20.1% and 35.7%; FXSpotStream 30.4% and 69.1%; FastMatch 25.7% and 100%; and GTX 19% and 62% respectively.
Thomson Reuters says its FX platforms handled $82 billion per day of spot volume in December.
The 18.8% decline from November’s data is broadly in line with other platforms to report, all of whom were down month-on-month, however whereas as its rivals all posted a year-on-year gain Thomson Reuters has registered a 9.9% year-on-year decline also.
It was a slightly more positive picture in the firm’s overall FX data, other FX volume rose by 3.4% month-on-month and 8.5% year-on-year to $267 billion. This meant that total FX volume fell 2.8% from November and rose 3.5% from December 2015.
Thomson Reuters has rounded out the reporting period for FX platforms, recording average daily volume (ADV) of $84 billion in spot and $254 billion in forwards, swaps, NDFs and options.
Thomson Reuters has reported good month-on-month growth in FX average daily volume (ADV), however year-on-year activity is lower.
In June 2016, across all its FX platforms, Thomson Reuters says it handled $93 billion per day, up 9.4% from May – a better performance than EBS, FastMatch, GTX and Hotspot but out-performed by CME and FXSpotStream.
On a year-on-year basis, Thomson Reuters’ ADV is 12.2% down, however June 2016’s data was influenced by the UK referendum on EU membership.
Across all FX products, ADV was $376 billion, 7.4% higher month-on-month and 4.6% lower than June 2016.
In the last month of trading as Thomson Reuters, the firm’s FX platforms delivered a rise in activity in September.
The newly-rebranded Refinitiv enters business having seen the platforms handle average daily volume (ADV) of $425 billion in September across all FX products. This represents a 5.5% increase on August and a 3.4% year-on-year increase.
The increase was thanks to increased non-spot activity, while spot ADV was $98 billion, a 4.2% increase on August, it represents a 4.8% decline from September 2017. Other volume meanwhile was $327 billion, up 5.8% on both a month-on-month and year-on-year basis.
The Thomson Reuters’ results reflect developments elsewhere, with Deutsche Boerse’s 360T still to report data, only Fastmatch FX saw a month-on-month decline.