According to a regulatory filing by ICAP plc (LON:IAP), foreign exchange trading volumes transacted through the company’s EBS platform have dropped by 5% on a monthly basis after announcing its highest volumes number this year in October.
The firm’s FX business has been benefiting from increased volatility across the forex market since late August and, while marking the first monthly decline since July, the figure remained 55% higher when compared to a year ago.
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The company’s other electronic trading businesses also registered monthly declines with US Treasuries dropping 34% when compared to the previous month, while US and European repo market activity dropped by 5% and 7% respectively.
With the final trading month of the year usually being less volatile, there is still a slew of potential market moving factors which could bring more trading activity going forward.