Refinitiv’s spot FX volumes hit 8-month low
Refinitiv, the former Financial and Risk business of Thomson Reuters, today reported that the average daily volumes (ADV) of currency trading were $424 billion last month on the company’s main FX trading services.
August’s ADV figure is the lowest in three months, namely since currency volumes bottomed out in May.
Foreign exchange trading volumes across Refinitiv Matching and FXall platforms were down -3 percent on a monthly basis from $436 billion in July 2023. The figure was, however, higher by 2.7 percent from $413 billion in August 2022.
Spot FX volumes at Refinitiv, still partly owned by Thomson Reuters, were reported $88 billion, down 10 percent over the monthly interval when compared to $99 billion in July. On a yearly basis, the spot turnover managed to best its counterpart of August 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 $336 billion daily, which is down from $338 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.
