Average daily trading volumes in September rose 32% from the same month a year ago, to more than $176 billion, the highest level this year and the second-highest recorded monthly figure. The highest ever average daily FX volumes of $186bn were recorded in May last year when the flash crash created extreme levels of market volatility. Jas Singh, global head of treasury at Thomson Reuters, said that all euro-based currency pairs saw higher than average volumes as a result of the falling confidence in the eurozone. Trading volumes in commodity-based currencies, whilst significant, remained level with August, whilst volumes grew in emerging market currencies, such as the Russian rouble, Indian rupee and Singapore dollar.
Average daily FX volumes correspond to the average daily amount traded on the company’s main FX spot trading services – Thomson Reuters Dealing, Matching and Reuters Trading for FX.