The CME reports that its daily FX turnover averaged 460,000 contracts in January, down 23 percent from a year previously. Icap’s figures look even grimmer. The average daily turnover on its EBS platform fell by 37 percent to $149.1 billion.
Further evidence of a slowdown comes from CLS. The utility saw a 7 percent increase in volume to 515,237 instructions on an annualized basis, but the value of the business settled fell by 25 percent.
The figures reinforce what many market participants have been saying for a while – that liquidity has got shallow on the leading portals.
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