Financial markets data and infrastructure provider Refinitiv has announced a reported turnover of $436 billion for the month ending December 2020.
The turnover includes all products such as non-deliverable forwards, options, swaps, as well as cash.
According to the report, the trading volume is 1.8% lower than the previous month’s volume, which stood at $444 billion in November. However, it was higher than the volume recorded in December 2019 by 10%, the report reveals.
Average daily turnover also drops
The FX spot for December dropped from $89 billion to $84 billion, which represents a 6% drop. However, when compared to the same month the previous year, the spot turnover was more impressive than its volume in December 2019, which was about $79 billion.
The average daily turnover for other transaction types such as options, swaps, and forwards, was $352 billion daily, representing an 8% drop on the $355 billion recorded the previous month.
The trend in FX volumes was also echoed in the entire industry, as several other trading platforms recorded a similar drop in volume compared to the previous month’s figures. The first half of the year has seen many of the trading platforms reaching record-breaking figures.
However, the market started turning in the opposite direction in the second half of the year. While other platforms suffered for this lackluster performance, Refinitiv maintained a positive outlook due to its strong position as the major trading hub for the wholesale market.
LSEG set to close $27 billion acquisition of Refinitiv
In a related development, the London Stock Exchange has confirmed it will be completing its $27 billion acquisition of Refinitiv next week. The news is coming after the European Commission approved the all-stock deal back in December last year.
Based on the terms of the deal, Refinitiv’s former owner, Thompson Reuters, will still retain 15% ownership of the company while 37% of the stake will be held by the Blackstone-led Refinitiv.
Refinitiv is also engaged in series of partnership deals to boosts its presence and cement its place as the largest provider of financial markets data in the world.
Recently, it partnered with The Sentry, a financial investigative firm that fights against international financial crime.