Reuters: US Dollar Report: EBS August daily FX volume drops 49 pct from year ago

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EBS August daily FX volume drops 49 pct from year ago Sep 6th 2012, 18:24 NEW YORK, Sept 6 | Thu Sep 6, 2012 2:24pm EDT NEW YORK, Sept 6 (Reuters) - Average foreign exchange spot volume traded on the EBS trading platform plunged 49 percent in August to $95.5 billion from year-ago levels, parent company ICAP said on Thursday. August's volume was down 11 percent from $106.7 billion in July and was the lowest since December 2011, according to ICAP data. At its peak, EBS did more than $250 billion in volume in February 2008. EBS volume came a day after Thomson Reuters reported that the average daily turnover on its FX trading platform dropped more than 30 percent last month to $115 billion from a year earlier. EBS is the leading liquidity provider for the most widely traded currencies -- the euro, yen and Swiss franc. Thomson Reuters is strong in Scandinavian currencies; the so-called Commonwealth currencies that include British sterling and the Australian, Canadian and New Zealand dollars; and emerging market units. Volume on the FX trading platforms has been declining in general because of increased risk aversion as the euro zone crisis has remained unresolved.

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