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LONDON, May 9 (Reuters) - Average daily volumes in the foreign exchange market rose 4.9 percent in April from the previous month, data from FX settlement system CLS showed on Thursday.
The total volume of instructions submitted to CLS, combining settlement and aggregation services, rose to 1,277,911 from 1,217,817 in March.
Despite the increase, the average daily value of transactions in the foreign exchange market fell 3.1 percent from the previous month, slipping to $5 trillion from $5.16 trillion in March.
Earlier this week, data showed daily spot foreign exchange trading volumes on Thomson Reuters dealing platforms fell slightly in April from the previous month.
Similar data for EBS trading platform, which competes with Thomson Reuters in the FX dealing business, showed an increase of 7 percent in April, parent company ICAP said.