With only a few large FX firms having made some headway in reversing the continually contracting trading volumes that have prevailed since the beginning of the year, Thomson Reuters’ (NYSE:TRI) announcement of its trading metrics for May 2014 bear out the general direction that this year’s environment is not improving.
Average daily FX volumes (ADV) at Thomson Reuters matching operations for May this year amounted to $87 billion, which represents a 3.3% decrease over the figures achieved in April, and a 38% decline from the highs of May 2013, a period when the entire FX industry was experiencing a sustained run of very high volumes.
FXall, the professional trading platform which Thomson Reuters purchased for $625 million two years ago, has also experienced a decline in trading revenues, with ADV for May this year down 3.8% compared with April, representing the second lowest results in what has been widely acknowledged as a difficult year.
