EBS Volumes Sharply Higher by 21% in August, Highest Since March

Volumes at ICAP’s EBS have risen sharply during the month of August, coming out the highest since March this year, when geopolitical

icap logoVolumes at ICAP’s EBS have risen sharply during the month of August, coming out the highest since March this year, when geopolitical factors affected the currency markets worldwide. The move is restoring prospects for higher volumes at ICAP, gradually positioning a base after the declines it experienced throughout the previous quarters, ceding market share to Thomson Reuters.

Electronic trading on the EBS platform totaled $85.5 billion in Average Daily Volumes (ADV), which is higher by 21% when compared to July, and higher by 9% over August 2013.

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It seems that the foreign exchange electronic trading division of ICAP is finally taking a breather as rising volatility during the month of August contributed to rising volumes across the board.

EBS Average Daily Volumes,  $ bln, Single Count
EBS Average Daily Volumes, $ bln, Single Count

After the low market earlier this year in April at $68.5 billion, August marks the first substantial increase since January 2013. The figures have been reported by ICAP in a regulatory filing just before the London market close.

The trend confirms the theory voiced by Forex Magnates, that the worst of the benign volatility on the FX market is behind us, at least for this year. Earlier today we saw the euro hitting a new 13-month low, erasing barriers at 1.3000 following the ECB’s press conference.

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