07.04.10
March ICAP electronic broking volumes up 27% year on year
London, 7 April 2010 – ICAP (IAP.L), the world’s premier interdealer broker, announced
on Wednesday that average daily volumes on its electronic broking platforms BrokerTec
and EBS recorded in March the highest level of trading since October 2008, with US
$715.3 billion (bn). This is an increase of 27 percent on the previous year.
Fixed-income products saw particularly robust trading in March. Total average daily
volumes in fixed income products on the BrokerTec platform (US Treasury products, US
repo and EU repo) were $565bn in March, an increase of 36% on the previous year.
US repo activity was especially strong, with electronic volumes up 42% on March 2009.
European repo volumes also reached the highest levels they have been since October
2008 at $245.1bn. Average daily electronic volumes in US Treasury products increased
30% year-on-year to $121.3bn.
David Rutter, Deputy CEO of ICAP Electronic Broking, said: “Our electronic markets
continue to show growth, driven primarily by greater customer risk tolerance, continued
supply, and the re-establishment of traditional market players. These dynamics helped
drive daily activity on the EBS platform to surpass $200bn six times in the first
quarter of 2010.”
Average daily volumes in spot FX on the EBS platform were $150.3bn in March 2010. In
the first quarter of 2010, spot FX volumes increased three percent year on year to
$153.6bn.
ICAP reports all of its electronic broking volumes on a single count basis.
Contacts
Mike Sheard Director of Corporate Affairs +44 (0) 20 7050 7103
Candice Adam Argentus PR +44 7771 906 073
About ICAP
ICAP is the world’s premier interdealer broker and provider of post trade services. The
Group matches buyers and sellers in the wholesale markets in interest rates, credit,
commodities, foreign exchange, emerging markets, equities and equity derivatives
through voice and electronic networks. ICAP is also the source of global market
information and research for professionals in the international financial markets. ICAP plc
was added to the FTSE 100 Index on 30 June 2006. For more information go to
www.icap.com
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