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Foreign Exchange

Exchanges report lacklustre FX volumes in April

The average daily volume of FX contracts traded on US exchanges in April suggests a continued slump in FX trading activity.

CME’s FX volume averaged 759,000 contracts per day, down 5% from April last year and 19% lower than March. The corresponding average daily notional value was $96 billion, down 23% from last month. Volumes on the IntercontinentalExchange, where investors can trade futures and options on the US dollar index, also remained soft in April.

An average 23,678 currency futures and options were traded daily on the Atlanta-based exchange last month, 12.5% less than April 2011.

Meanwhile, Thomson Reuters reported average daily volumes on all of its spot FX trading services, of $130 billion, 5% lower than in March, and 6% less than in April 2011.

Volumes on EBS, multi-dealer platforms, Hotspot and FXall, are due to be released in coming days that should provide a clearer picture on overall trading activity in the FX market.

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