On-Sef FX volumes slump to year lows in December

End-of-year numbers down a quarter from the highs of March

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Volumes of FX transactions on swap execution facilities (Sefs) fell in December to their lowest level of the year, according to the FIA's Sef Tracker.

Average daily volumes traded at $29.3 billion in December, reaching levels unseen since July 2014. The figures were 24% lower than in March, the most active trading month of 2015, for on-Sef FX when volumes peaked at $38.5 billion.

The lows of December reflect the dips in both categories of FX instruments traded on-Sef, non-deliverable forwards

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