4th Apr 2014 09:00
LONDON (Alliance News) - Interdealer broker ICAP PLC Friday reported that electronic broking volumes increased by 2.6% year-on-year and 8.8% month-on-month in March.
Total electronic broking average daily volumes increased to USD762.7 billion in March 2014, compared with USD742.9 billion in March 2013.
ICAP reported USD701.0 billion as the average daily volume in February.
Year-on-year, a 51% increase in US Treasuries was offset by a 27% decline in EBS volumes, although these were 6% up month-on-month.
EBS is ICAP's spot foreign exchange business. It includes the EBS Market and EBS Direct.
In its most recent financial year, ended March 31, ICAP said US Treasury average daily volumes increased by 33%, while EBS volume was down 19%.
Total electronic average daily volume over the year was up 2%.
On April 1, ICAP said it expects results for its recent financial year to be in line with current market expectations.
ICAP shares were Friday quoted at 396.40 pence, up 1.6%.
By Samuel Agini; [email protected]; @samuelagini
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