March was a fantastic month for most forex brokers who reported a significant increase in trading volumes. Unfortunately this happened amid the Japanese crisis and the Middle Eastern unrest, and hence for the wrong reasons… Markets were indeed hectic all around the globe and volatility is known to drive higher trading forex volumes.
London, 6th April 2011 – ICAP, the world’s premier interdealer broker, announced today that total electronic broking volumes for the month of March on the BrokerTec and EBS platforms reached US$ 851.5billion, an increase of 19% year on year.
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Total average daily volumes in fixed income products on the BrokerTec platform were $689.4bn, an increase of 22% on the previous year. Overall repo volumes reached $518.8bn, up 17% year on year. US Treasury electronic broking volumes increased 41% year on year to $170.6bn. Total average daily volumes on the EBS platform were $157.3bn, up 5% year on year.
David Rutter, CEO ICAP Electronic Broking commented:
“New issuance and continued interest rate volatility again contributed to greater activity on the BrokerTec fixed income platform. In FX, higher year on year volumes were a function of a combination of uncommon highs and lows in market volatility, driven by the tragic events in Japan, the ongoing turmoil in the Middle East as well as US and EU economic announcements.”