June 6, 2018 / 4:42 PM / in a year

FX trading volumes jump 23 pct year-on-year in May - Thomson Reuters

LONDON, June 6 (Reuters) - Currency trading on Thomson Reuters’ platforms rose 23 percent in May from a year earlier, the company said, as political turbulence in Italy and a raft of new U.S. trade tariffs increased activity on foreign exchanges.

Average daily volumes topped $432 billion in May compared with $350 billion in May 2017, Thomson Reuters said in a statement.

May volumes, however, were below those reached earlier this year. Thomson Reuters’ volumes hit a record $463 billion in February after volatility jumped from multi-year lows, surprising investors and encouraging more trading.

NEX Group, another big player in the foreign exchange market, earlier this week reported a 25 percent rise in average volumes in May.

Thomson Reuters said spot volumes came in at $107 billion each day on average during May. Other transaction types - including forwards, swaps, options and non-deliverable forwards - averaged $325 billion.

Information provider Thomson Reuters is the parent company of Reuters News (Reporting by Tommy Wilkes; Editing by Toby Chopra)

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