Daily forex volumes on Thomson Reuters platforms dip in Nov
LONDON Dec 11 (Reuters) - Foreign exchange volumes on currency platforms run by Thomson Reuters rose by 16 percent year-on-year to $347 billion in November, slowed from a 20 percent rise a month earlier by a broadly calmer tone in major currency markets.
Volumes had surged in October across most foreign exchange platforms after the Bank of Japan stunned markets with another round of monetary easing, provoking a sharp decline in the value of the yen.
Since then volumes have eased, although continued turbulence in emerging market currencies should keep trade reasonably vigorous going into the year-end when volumes tend to drop off.
Average spot daily volumes on Thomson Reuters platforms in November were $120 billion, down from $134.8 billion clocked in October and well below the $144.2 billion seen in September.
Daily spot foreign exchange volumes on Thomson Reuters' competitor, EBS, which has a dominant share of business in the dollar, yen and the euro were at $123 billion, down from $129.9 billion October.
Daily volumes on EBS, owned by ICAP had hit a three-year high of $250 billion on Oct. 31, the day the BoJ announced it would conduct more quantitative easing. (Reporting by Anirban Nag; editing by Patrick Graham)
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