Refinitiv’s daily FX volumes retreat in July to $436 billion
Refinitiv, the former Financial and Risk business of Thomson Reuters, today reported that the average daily volumes (ADV) of currency trading were $436 billion last month on the company’s main FX trading services.
Foreign exchange trading volumes across Refinitiv Matching and FXall platforms were down -3 percent on a monthly basis from $448 billion in June 2023. The figure was, however, higher by 6 percent from $413 billion in August 2022.
Spot FX volumes at Refinitiv, still partly owned by Thomson Reuters, were reported $98 billion, representing a slight change over the monthly interval when compared to $99 billion in June. On a yearly basis, the spot turnover managed to best its counterpart of July 2022, which came in at $86 billion.
Weaker activity in other transaction types, including forwards, swaps, options and non-deliverable forwards (NDFs), contributed to the monthly drop. The figure averaged $338 billion daily, which is down 3.2 percent from $349 billion in the previous month.
Refinitiv’s figures reflect the trend observed in the monthly figures from many of the major trading platforms which have seen record-breaking volumes in the first half before turning to suffer lackluster activity.
Refinitiv’s FX business offers a variety of products and services for institutional clients, including pricing and analytics tools, trading platforms, and post-trade solutions. Its flagship product, Refinitiv FXall, is a leading electronic trading platform that connects clients with over 1,800 liquidity providers, enabling them to execute trades in more than 150 currencies. The platform offers a range of trading options, including spot, forward, swap, and non-deliverable forwards (NDFs), and provides users with real-time market data and analysis.
In addition to its trading platform, Refinitiv’s FX business also offers a suite of analytical tools and data services, including Refinitiv Eikon, which provides real-time news, market data, and analysis, and Refinitiv Dealing, a platform for interbank trading. Depending on their business model and market conditions, Refinitiv Elektron offers partners an ultra-low latency order routing and pricing engine, also giving the institutions the opportunity to connect to a wide range of liquidity providers. This includes cross-asset market and pricing data, providing 9 million prices updates per second over 84 million instruments and 2.5 terabytes of real-time pricing daily.
