December 6, 2016 / 11:37 AM / in 2 years

Trump victory pushes up spot trading on Thomson Reuters FX platforms

LONDON, Dec 6 (Reuters) - Average daily spot trading volumes on currency trading platforms run by Thomson Reuters jumped to a five-month high in November, the company said on Tuesday, boosted by big moves in foreign exchange markets following Donald Trump’s unexpected victory in the U.S. presidential election.

Total currency trades across TR platforms, including forwards, swaps, options and non-deliverable forwards (NDFs), dipped to a daily average of $359 billion, from $364 billion a day in October. Compared with the same month last year, though, average daily volumes were up 14 percent.

Spot trading on TR platforms climbed to a daily average of $101 billion over the month, up from $95 billion in October and $90 billion in the same month last year. That was the highest level since June, when volumes spiked after Britain’s shock vote to leave the European Union.

Rival currency trading platform EBS said earlier this month that its volumes had jumped 37 percent on the month, with trading in the three big currencies on the platform - the dollar, euro and Japanese yen - rising by as much as 52 percent.

Editing by Nigel Stephenson/Jermey Gaunt

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