Spot volumes on platforms resumed downward trend in 2019

But an uptick was seen in FX swaps and forwards submitted for settlement

Falling figures: volumes at Refinitiv, EBS and Cboe FX dropped 14%, 16% and 13%, respectively

After a reasonable pick-up in volumes in 2018, spot trading on multi-dealer platforms (MDPs) and electronic communication networks (ECNs) resumed their multi-year downward trend in 2019, as the top over-the-counter FX platforms saw average daily volumes (ADV) fall by double digits.

In contrast to the latest triennial survey from the Bank for International Settlements, pointing to 20% growth in spot trading, volumes at Refinitiv, EBS and Cboe FX fell by 14%, 16% and 13%, respectively (see table

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