FX spot volumes in decline, survey results reveal

Tax burden falling

Average daily spot turnover in the UK fell by 12% from $804 billion to $711 billion between October 2011 and April 2012, according to the Bank of England's Foreign Exchange Joint Standing Committee (JSC), which released the results of its semi-annual turnover survey yesterday.

The findings reflect a general trend of depressed trading volumes on a number of major platforms, including EBS and Thomson Reuters, during the first half of 2012, although the JSC did report average daily turnover in FX

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