6th Nov 2014 09:46
LONDON (Alliance News) - Interdealer broker ICAP PLC Thursday said its electronic broking average daily volume in October increased by 18% year-on-year, and by 3% on the figures reported for September.
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 USD798.1 billion in October on a single count basis.
The year-on-year increase was due to a 69% surge in volumes on ICAP's foreign-exchange trading platform EBS to USD129.9 billion, as well as a 44% rise in US Treasury average daily volumes to USD207.7 billion.
Combined with a 6% increase in US Repo average daily volumes to USD227.3 billion, the rise in EBS and US Treasury volumes more than offset a 2% fall in European repo average daily volumes to USD233.2 billion.
Month-on-month, ICAP reported a 10% rise in EBS average daily volume, a 22% rise in US Treasury average daily volume, a 5% fall in US Repo average daily volume, and a 4% fall in European repo average daily volume.
ICAP shares were down 0.2% at 432.40 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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