14th Feb 2005 08:00
ICAP PLC14 February 2005 ICAP's daily electronic transaction volumes exceed US$500bn London, February 14, 2005 - ICAP plc (IAP.L), the world's largest interdealerbroker announced that transaction volumes on its electronic broking platformsfor the first time exceeded US$500 billion* in a single day on 10 February 2004. In the key US Treasury market, ICAP estimates that its combined voice andelectronic market share in US Treasury products have exceeded 60% for the fourthquarter on 2004, compared with over 46% share in the same period of 2003. Michael Spencer, ICAP's Group Chief Executive Officer said, "For the first timeICAP's electronic transaction volumes exceeded US$500 billion* in a single day.This compares with average daily volumes of about US$210 billion when ICAPbought BrokerTec in May 2003 and has been achieved by building critical mass inwide range of liquid interest rate and credit products. We continue toexperience a rapid acceleration of electronic transactions across many markets." ICAP's electronic broking footprint in fixed income products is much moreextensive than any other broker and currently includes active and off-the-run USTreasuries, Bills, Notes, Bonds, Strips, TIPS and Basis trading as well asAgencies and Mortgages; European, UK, Australian, Japanese and South Africangovernment bonds; US$ and euro repurchase agreements; Eurobonds and creditderivatives; short dated euro interest rate swaps (EONIA) and forward foreignexchange. About ICAP: ICAP is the world's largest interdealer broker and following the acquisition ofthe BrokerTec fixed income securities businesses is the world's leadingelectronic broker of fixed income securities with a daily average transactionvolume in excess of US$850 billion, more than 50% of which is electronic. TheGroup is active in the wholesale market for OTC derivatives, fixed incomesecurities, money market products, foreign exchange, energy, credit and equityderivatives. * For comparison purposes the volume data in this press release counts one sideof each transaction Contacts: Mike Sheard Director of Corporate Affairs (44) 20 7050 7103 Ivette Collazo ICAP North America (1) 201 209 7831 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
IAP.L