3rd Mar 2015 11:12
LONDON (Alliance News) - ICAP PLC Tuesday said its electronic broking average daily volume in February fell by 1% year-on-year and by 6% from January.
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 USD697.0 billion in February on a single-count basis.
The year-on-year decrease was due to a 23% drop in European repo volumes to USD196.0 billion, which detracted from a 15% increase in US Treasury volumes to USD181.9 billion, a 13% increase in volumes on foreign-exchange trading platform EBS to USD94.1 billion, and a 10% increase in US repo volumes to USD225.0 billion.
ICAP said the month-on-month fall was driven by a 27% decrease in EBS volumes, as well as a 5% fall in European repo volumes and a 2% fall in US Treasury volumes. US repo volumes were up 2% month-on-month.
ICAP shares were down 0.3% at 534.0 pence Tuesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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