March 7, 2013 / 10:49 AM / 5 years ago

Thomson Reuters FX volumes rise 9 pct month-on-month in Feb

LONDON, March 7 (Reuters) - Daily spot foreign exchange trading volumes on Thomson Reuters dealing platforms rose 9 percent in February from the previous month, company data showed on Thursday.

Average daily spot volumes were $137 billion, up from $126 billion in January. Volumes were little changed from a year ago, when they reached $136 billion.

On FXall, the electronic foreign exchange platform purchased by Thomson Reuters last year, average daily volumes edged up to $110 billion in February, from $109 billion the previous month. That was a 26 percent increase from February 2012, when average daily volumes on FXall were $87 billion.

Phil Weisberg, global head of foreign exchange at Thomson Reuters said volumes were boosted by global central bank actions like the Federal Reserve indicating optimism about the U.S. economy and the Bank of England’s discussions on flexible inflation targets. The Bank of Japan’s policy of further monetary easing has also helped, he added.

“This increased volatility and drove volumes up across all Thomson Reuters platforms,” Weisberg said.

The rise in volume on both platform mirrors a pick-up in activity across the $5 trillion-a-day FX market, although Thomson Reuters lagged competitor EBS, owned by inter-dealer broker ICAP, which saw volumes in February rise 18 percent from a year ago.

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