ICAP's spot fx volume down 15% YoY, total volume up 19%

It seems that the biggest decrease in ICAP's fx volume was in majors which in part was offset by growth in emerging/exotic currencies.

Total ICAP Electronic Broking Volumes for EBS and BrokerTec Platforms Increase 19% in February Year on Year

ICAP, the world’s premier interdealer broker, announced today that total electronic broking volumes for the month of February on the BrokerTec and EBS platforms reached US$ 827.1 billion, an increase of 19% year on year.

Total average daily volumes in fixed income products on the BrokerTec platform were $687.2bn, an increase of 30% on the previous year. Overall repo volumes reached $518.1bn, up 27% year on year. US Treasury electronic broking volumes increased 36% year on year to $169.1bn. Total average daily volumes on the EBS platform were $139.9bn, down 8% month on month.

David Rutter, CEO, ICAP Electronic Broking, said:

“Interest rate Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term over the past month has resulted in continued growth in fixed income products on the BrokerTec platform, in both US and European markets. FX markets have been more subdued in the G8 currencies, although emerging markets have continued to develop strongly.”

ICAP reports all of its electronic broking volumes on a single count basis.

About ICAP

ICAP is the world’s premier interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, emerging markets, equities and equity derivatives through voice and electronic networks. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com