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Spot FX trading on Thomson Reuters platforms hits 5-month high

Published 2015-09-07, 08:34 a/m
© Reuters. Spot FX trading on Thomson Reuters platforms hits 5-month high
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LONDON, Sept 7 (Reuters) - Daily spot trading volumes on
foreign exchange platforms run by Thomson Reuters jumped almost
20 percent to a five-month high in August, the company said on
Monday, as traders sought to profit from China-driven market
volatility.
The numbers from the New York-listed company TRI.TO also
showed the total daily volumes across all types of trading,
including swaps, forwards and options, rose to $364 billion,
compared with $353 billion the previous month and $355 billion
in August 2014.
Average daily spot trading reached $119 billion in August,
up from $101 billion in July and the highest since March. That
was also more than 10 percent higher than the average $107
billion in the same month last year.
Data from fellow FX platform EBS, owned by the world's
largest inter-dealer broker, ICAP IAP.L , also showed a pick-up
in trading for August. Total daily volumes were up 22 percent on
the month at $82.1 billion.
The rise in volumes came at a time when many traders and
investors had gone on their summer holidays. But it also came in
a month in which the Chinese yuan was devalued and when worries
over slowing Chinese growth and a bursting Chinese stock bubble
triggered turmoil across financial markets.

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