FX trades feel the crunch
LONDON - Trading volumes on FX platforms fell in Q4, confirming analysts' predictions that the FX industry would see a contraction as a result of the credit crisis.
Last week, the Chicago Mercantile Exchange (CME) reported a 15% fall in average daily notional values to $62 billion in Q4 2008, compared with the same period the previous year. The quarter's average daily volumes of contracts traded fell 14% from the same period in 2007, to 481,000.
The exchange also suffered a decline in its
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