EBS April ADV -23% from $88.4B in March to $68.5B, down $19.9B MoM, as FX Takes Hit

Trading volumes in April appear to have taken the hardest hit in recent months, for ICAP's staple electronic broking system,

ebs-300EBS, the electronic brokering system operated by ICAP, volumes plummeted by 22.5% during the month of April 2014, when compared to the prior month when March’s totals stood at $88.4 billion, as covered by Forex Magnates.

This drop of nearly $20 billion, almost a quarter of March’s total, reflects the downward trend of volumes that have already been reveled by a number of firms for the month of April, as data continues to come through for last month.

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For EBS, this change is even worse from a year-over-year perspective, where comparatively volumes on EBS are 47% lower than April 2013 when the platform experienced $128.3 billion in average daily trading volume.

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Trading volumes during the month of April in Foreign Exchange are well off their highs of last April when FX volumes were said to have peaked, as revealed in the latest BIS triennial survey of central banks using April 2013 data.

A copy of reported volumes, including across the platforms treasury and repo’s electronic business can be seen in the graphic below excerpted from the official EBS press release from ICAP:

EBS April 2014 Trading Volumes, and comparisons to April 2013, and March 2014 totals. [Source: ICAP]
EBS April 2014 Trading Volumes, and comparisons to April 2013, and March 2014 totals. [Source: ICAP]
 The news follows a synergy announced earlier in April to combine voice broking capabilities with electronic access for a new eFix matching product for daily fixings.

 

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