LONDON, March 8 (Reuters) - Average daily volumes in the foreign exchange market rose by 8.6 percent in February from the previous month, data from FX settlement system CLS Bank showed on Friday.
February's rise was however less dramatic than the 40 percent surge in average daily volumes in January.
The average daily value of transactions submitted to CLS slipped to $5.17 trillion, 0.4 percent lower from $5.19 trillion in January. Still, the average daily value of transactions was up 8.6 percent from a year ago, when it totalled $4.76 trillion.
Total volumes submitted to CLS, combining settlement and aggregation services, rose to 1,351,490 from 1,244,505 In January. That was a 29.7 percent rise from February last year when volumes totalled 1,041,992.
The figures from CLS seemed to mirror a similar rise in the leading spot foreign exchange trading platforms.
Data released earlier this week showed daily spot foreign exchange trading volumes on Thomson Reuters dealing platforms rose 9 percent month-on-month in February, while those traded on the EBS trading platform rose five percent.