3rd Feb 2015 15:17
LONDON (Alliance News) - ICAP PLC Tuesday said its electronic broking average daily volume in January increased by 1% year-on-year and by 10% from December.
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 USD742.8 billion in January on a single-count basis.
The year-on-year increase was due to a 48% surge in volumes on ICAP's foreign-exchange trading platform EBS to USD129.6 billion, as well as a 12% rise in US Treasury average daily volumes to USD185.2 billion, and a 3% rise in US Repo average daily volume to USD220.8 billion. Those increases were partly offset by a 23% fall in European Repo average daily volumes to USD207.2 billion.
ICAP said the month-on-month rise was driven by 24% increases in US Treasury and EBS volumes, as well as a 4% rise in European Repo volumes. US Repo volumes were down 1%.
ICAP shares were up 1.8% at 476.40 pence Tuesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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