FX: Volumes continue to pick up
Volume figures released during February confirm further increases in FX flow.
Thomson Reuters average daily FX spot volumes for the month of January were in excess of $143 billion, the highest since they started reporting figures in April 2009.
CME reported average daily volume in January of $108 billion, a 78% increase on January 2009 and record for a non-roll month. CME also reported that on February 4: "EUR/USD options set a record with a total notional value of $10.2 billion with 59,491 contracts traded. This record boosted overall FX options to 86,521 contracts traded, with a notional value of $13.2 billion – the highest in a decade."
ICE Futures reports dramatic growth in its dollar index futures. Average daily volume in January was up to 23,780 contracts from only 7,397 contracts in January last year. The average daily notional may only be $2 billion, but it looks like the product is gaining traction.
CLS Bank says its average daily volume in January was 718,917 payment instructions, up 13.9% on the month and 39.5%