Global volatility spurs record Reuters FX volumes

Global volatility spurs record Reuters FX volumes

Reuters is reporting record first quarter trading volumes in its Treasury Broking Services businesses and the introduction of new emerging market currencies to the Dealing 3000 matching system.

Mark Robson, managing director, Treasury Broking Services, Reuters, says the business is experiencing strong and year-on-year growth: "We posted record volumes in January and February this year and in March experienced a record day where we reached $130 billion in Forward FX and some 30,000 Spot FX matches, the second best day since the service was introduced."

The growth in forwards is driven by interest rate moves in the G7 economies and in spot by currency volatility due to the Gulf and the equity markets, he says.

Reuters Dealing 3000 Matching service now includes the Slovak koruna forwards and Turkish lira spot against the US dollar and euro for both immediate and next day settlement. Additionally, the company has launched electronic broking services in Cyprus.

Over the coming months, the news and information group plans to add the Indian rupee to its forwards matching service.

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