7th May 2014 12:31
LONDON (Alliance News) - ICAP PLC Wednesday said its monthly electronic broking volumes decreased by 5.0% year-on-year and 9.0% month-on-month.
Total electronic broking average daily volumes decreased to USD692.6 billion in April, compared with USD725.7 billion in the corresponding month a year ago.
ICAP, which matches buyers and sellers in the wholesale markets, reported USD762.7 billion as the average daily volume in March.
Year-on-year, a 35% increase in US Treasury volumes was more than offset by a 47% decline in EBS volumes, which were down 23% month-on-month. Year-on-year, US Repo average daily volumes were down 10% and 9.0% month-on-month.
US Treasury volumes were down 14% month-on-month.
EBS is ICAP's electronic forex business.
Total electronic average daily volumes over twelve months ended April 30 were up 2% at USD716.7 billion.
ICAP shares were Wednesday afternoon quoted at 406.90 pence, down 2.4%.
By Samuel Agini; [email protected]; @samuelagini
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