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Thomson Reuters currency volumes dip in July

Reuters - UK Focus

LONDON, Aug 11 (Reuters) - Daily foreign exchange volumes on currency platforms run by Thomson Reuters fell 6 percent to $353 billion last month from July's levels, the company said on Tuesday.

The data also showed average spot daily volumes in July fell to $101 billion, from $108 billion in June, and a tad higher than that clocked in July last year when volumes fell to $99 billion.

The drop in volumes on the Thomson Reuters platform was mainly because of the summer lull when traders and investors tend to go on holidays. It mirrored a dip on the rival EBS platform, owned by the world's largest inter-dealer broker, ICAP (Amsterdam: IA6.AS - news) .

Trading volumes on the EBS trading platform fell by a fifth last month, dropping to an average of $82 billion a day from $101 billion in June.

Trading on EBS - the main venue for banks and other major institutions to trade the euro, yen and Swiss franc against the dollar - was still up 16 percent on a year ago, when the platform was just emerging from a prolonged drop in volumes. (Reporting by Anirban Nag; Editing by Ruth Pitchford)