End of year effect – ICAP's forex volumes down 11%

Marking the usual end of year slow down in trading volumes, as many traders eliminate positions, which was already felt

Marking the usual end of year slow down in trading volumes, as many traders eliminate positions, which was already felt in October since the summer’s peak – ICAP’s fx volumes were down 11% year on year. Below you’ll find ICAP’s daily FX volumes averages month by month for the past 2 years. Excluding this summer’s peak – overall trend is not positive.

London, 6 December 2011 – ICAP, the world’s leading interdealer broker, announced today that average daily electronic broking volumes on the BrokerTec and EBS platforms in the month of November reached US$770.7bn, a decrease of 7% year-on-year.

Average daily spot FX volumes on the EBS platform in November were $144.6 bn, a decrease of 11% over the previous year.

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Average daily volumes in fixed income products on the BrokerTec platform in November were $626.1bn, a decrease of 6% over the previous year. Overall repo volumes reached $505.3 bn in November, a decrease of 1% year-on-year, reflecting an 8% decrease in US repo and a 6% increase in European repo. Average daily US Treasury volumes on BrokerTec decreased 23% year-on-year in November.

These volumes reflect the well-reported slowdown in November due to general market uncertainty and a difficult comparator given a very active November 2010, our second strongest month last year.

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

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