6th May 2015 11:50
LONDON (Alliance News) - Interdealer broker ICAP PLC Wednesday said its electronic broking average daily volumes fell by 6% year-on-year in April and by 7% from the previous 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 USD649.4 billion in April on a single-count basis.
The total year-on-year volumes fell amid a 26% decrease in European repo volumes to USD195.7 billion and an 11% fall in US Treasury volumes to USD144.5 billion, partly offset by a 7% increase in US repo volumes to USD212.3 billion and a 41% increase in volumes on currency-trading platform EBS to USD96.9 billion.
The month-on-month fall was driven by a 15% fall in volumes on EBS, an 8% fall in European repo volumes, a 6% fall in US Treasury volumes and a 3% fall in US repo volumes.
ICAP shares were down 1.0% at 541.50 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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