There are few things traders like more than volatility, at least from a markets perspective.
As many of you are no doubt aware, financial markets were pretty volatile in the first quarter of the year, especially in February and March.
While the most skittish moves were seen across stocks, it’s clear that currency traders were also active during the quarter.
Well, more than a little active.
According to data released by CLS, a major provider of FX settlement services, average daily trading volumes jumped to the highest level on record.
The group said turnover averages $US1.87 trillion over the quarter, easily surpasseing the previous record high of $US1.67 trillion set in the first quarter of 2013.
According to CLS, average daily turnover in February stood at a whopping $US1.949 trillion.
That slowed to $US1.855 trillion in March, a pattern that is likely to have extended into April as financial market volatility has died down.
This table from CLS breaks down average daily turnover by swap, spot and forward contracts over the past three months.
Business Insider Emails & Alerts
Site highlights each day to your inbox.