Thomson Reuters, FXall, and CLS Bank Report November Figures

EBS’s November figures just started to look a lot better. Rival trading venues Thomson Reuters and FXall reported their November trading volumes today. At Thomson Reuters, November averaged daily volume (ADV) was registered at $120 billion which compared to $111 billion in October, and $150 billion in the same period last year. FXall’s figures were slightly better as cumulative volume for both its Relationship and Active Trading units was registered at $95 billion, a small gain from the $94 billion it posted in October, and much better than the same period last year when they reported $82 billion. The decline at Thomson Reuters and small increase at FXall compare to the 12.8% increase that took place at EBS. As reported earlier, EBS’s figures marked the second full month of trading after the ECN trading venue had applied new dealing rules. As such, it appears that traders may be returning to the platform after having backed off the first month to evaluate the new trading environment.

Elsewhere, the CLS Bank reported its November Settlement figures. Average daily volume submitted to CLS from its participating banks was $4.62 trillion, down 0.9% from October. Average daily transactions fell 3.9% to 965,818 from 1,005,312 in October. The data suggests that traders were trading larger sizes although overall trading decreased.(Of note, CLS Settlement data calculates figures from both parties of a trade, as each side reports separately within the CLS network. Therefore, to compute the value of initiated trades, the CLS volumes need to be divided by two. )