Refinitiv's FX Trading Volumes Experience 7.6% Monthly Drop in May 2023

Refinitiv, one of the world's largest providers of financial markets data and infrastructure, released its trading data for May 2023, recording the average daily trading volumes (ADV) of $424 billion for the month on its main FX trading services.

The FX trading volumes across Matching and FXall platforms experienced a drop of 7.6% compared to $459 billion in the prior month and a drop of 2.1% compared to $473 billion in the same period of last year.

Refinitiv' Spot FX volumes, partly owned by Thomson Reuters, came in at $90 billion, 6.3% lower than $96 billion in April 2023 and 7.2% lower than $97 billion in May 2022.

The decline in other transaction types, including forwards, swaps, options and non-deliverable forwards (NDFs), led to a decrease in monthly trading activity, having clocked in their worst month since December, averaging a daily figure of $334 billion, down 8% compared to $363 billion in the prior month.

According to the company’s trading data for April 2023​, Refinitiv's ADV of FX trading volume registered a drop of 3% on a monthly basis and a drop of 1.3% on a yearly basis.