7th Apr 2015 08:20
LONDON (Alliance News) - ICAP PLC Tuesday said its electronic broking average daily volume fell by 9% year-on-year in March and by 1% month-on-month.
In a statement, ICAP, which matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, emerging markets and equity derivatives, said that electronic broking average daily volumes totalled USD699.0 billion in February on a single-count basis.
The total year-on-year volumes fell amid a 20% decrease in European repo volumes to USD212.7 billion, a 19% fall in US Treasury volumes to USD153.9 billion, and a 1% fall in US repo volumes to USD218.8 billion, partly offset by a 30% increase in volumes on currency-trading platform EBS.
The month-on-month fall was driven by a 16% fall in US Treasury volumes and a 3% fall in US repo volumes, partly offset by a 22% increase in EBS volumes and a 9% increase in European repo volumes.
ICAP shares were up 0.1% at 537.50 pence on Tuesday morning shortly after reporting the figures.
By Samuel Agini; [email protected]; @samuelagini
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