Trump victory pushes up spot trading on Thomson Reuters FX platforms

[LONDON] Average daily spot trading volumes on currency trading platforms run by Thomson Reuters jumped to a five-month high in November, the company said on Tuesday, boosted by big moves in foreign exchange markets following Donald Trump's unexpected victory in the US presidential election.

Total currency trades across TR platforms, including forwards, swaps, options and non-deliverable forwards (NDFs), dipped to a daily average of US$359 billion, from US$364 billion a day in October. Compared with the same month last year, though, average daily volumes were up 14 per cent.

Spot trading on TR platforms climbed to a daily average of US$101 billion over the month, up from US$95 billion in October and US$90 billion in the same month last year. That was the highest level since June, when volumes spiked after Britain's shock vote to leave the European Union.

Rival currency trading platform EBS said earlier this month that its volumes had jumped 37 per cent on the month, with trading in the three big currencies on the platform - the US dollar, euro and Japanese yen - rising by as much as 52 per cent.

REUTERS