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Thomson Reuters FX volumes surged on "Brexit" Friday

Published 2016-06-27, 07:35 a/m
© Reuters. Thomson Reuters FX volumes surged on "Brexit" Friday
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LONDON, June 27 (Reuters) - Spot trading in currencies on
platforms owned by Thomson Reuters jumped by three times on
Friday, amid sharp swings in the British pound and other major
pairs after Britain voted to leave the European Union.
Total volumes of all currency trading, including derivatives
and other instruments, also hit a high of $482 billion on
Friday, up from May's average of $347 billion as sterling posted
its worst day in the era of free floating exchange rates. FRX/
Spot volumes on TR platforms, the leader in Commonwealth
currencies including sterling GBP=D4 and the Australian and
New Zealand dollars AUD= NZD= , rose to $258 billion,
compared to a daily average of $94 billion seen in May.
"The volumes illustrate the importance of neutral venues
like Thomson Reuters on busy days when price determination is
mission critical," a Thomson Reuters spokewoman said.
Electronic currency trading platform EBS, owned by
inter-dealer broker ICAP IAP.L also saw a rise in trading
volumes on Friday. ID:nL8N19G5P6
The jump in volumes on the electronic platforms offers hope
to a market where trading volumes have been suffering in the
past few months. On EBS, where the bulk of the trades in
dollars, yen JPY= and euros EUR= are carried out, volumes
were down 21 percent in May from a year ago.

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