December 20, 2017 / 6:39 PM / a year ago

Emerging market debt trading volume up 15 pct in third quarter vs second-EMTA

NEW YORK, Dec 20 (Reuters) - Emerging market debt trading volumes totaled nearly $1.3 trillion in the third quarter of 2017, a 15 percent climb from $1.13 trillion in the second quarter, according to a survey released on Wednesday.

However, the third quarter total was down 6 percent from nearly $1.38 trillion during the same time last year, according to EMTA, the emerging markets debt trading and investment industry trade association.

The turnover in local market instruments dropped 16 percent year-over-year to $736 billion in the third quarter from $878 billion during the same time last year, EMTA said.

Turnover of local market instruments made up 57 percent of total reported volume in the three months ended Sept. 30.

In a statement, EMTA said survey participants reported greater trading in the Asian region than in Latin America, the first time this has happened in the two decades the association has compiled quarterly trading volumes.

Brazilian instruments were the most frequently traded instruments overall, totaling $143 billion in turnover, or 11 percent of overall third quarter volumes. Trading in Brazilian instruments dropped by 7 percent year-on-year.

Indian instruments were the second most frequently traded at $138 billion, down 36 percent year-on-year. However, volumes rose 81 percent versus the second quarter. Overall, Indian instruments made up 11 percent of total volumes.

Chinese assets were the third most traded with volume of $129 billion, an 18 percent increase year-over-year and up 34 percent from the second quarter of 2017.

Eurobond trading increased 11 percent from the same time last year to $553 billion in the third quarter, EMTA said.

The survey compiled data from 45 leading investment and commercial banks, asset management firms and hedge funds and includes trading volumes from over 90 emerging market countries. (Editing by Daniel Bases and Bernadette Baum)

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