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September volumes calmer – EBS averages $183 Bln daily

The worlds largest inter dealer broker ICAP announced its September trading volumes for its EBS FX division. Currency trading volumes handled by EBS averaged $183.1 billion a day in September, the company said in a statement. That is up 25% on September 2010 but slightly down on an exceptionally busy August, when EBS handled an average of $186.9 billion a day.

LCH Clear to launch NDF clearing in November

LCH.Clearnet plans to launch its widely anticipated foreign exchange clearing platform for non-deliverable forwards (NDFs) in mid-November. The new clearing service, dubbed ForexClear, has been in development since late 2010. LCH.Clearnet declined to comment for this article, but it is understood the platform will launch with NDFs covering six currencies against the US dollar: Chinese Yuan, Brazilian Real, Indian Rupee, Russian Ruble, Korean won and Chilean peso.

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The worlds largest inter dealer broker ICAP announced its September trading volumes for its EBS FX division. Currency trading volumes handled by EBS averaged $183.1 billion a day in September, the company said in a statement. That is up 25% on September 2010 but slightly down on an exceptionally busy August, when EBS handled an average of $186.9 billion a day.

EBS experienced its busiest trade period post Lehman fallout, volumes hit a tremendous $274.2 billion. Not forgetting the 16th of August 2007 where the trade executor reached $456 billion. EBS has been strengthening its position as the main pure ECN for FX spot trading. FX Solutions a FX brokerage firm under the ICAP banner employs exclusive EBS pricing as one component of its proprietary price feed and distributes it across all four of its online and mobile trading platforms. In February 2011, the company automatically executed 99.15%* of its clients’ orders, thanks in part to the unrivalled pricing accuracy of EBS.

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