ICAP reported its EBS electronic foreign exchange (FX) volumes for the month ending October 2015, which underscored a consistent decline over September’s figures, according to an ICAP statement.

For the month ending October 2015, volumes at EBS plunged to $83.6 billion daily, which constitutes a decline of -6.5% MoM from $89.4 billion daily in September 2015. Across a yearly timeframe however, this performance was even worse, notching a -35.6% YoY loss from $129.9 billion in October 2014.

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In addition, ICAP’s US treasuries trading incurred a notable decline in trading during October 2015 as well, falling to $151.6 billion daily from $157.4 billion in September 2015, or -3.5% MoM. Measured against last year however, the latest figures also show a -27.0% YoY decline from $207.7 billion in October 2014.

Last month, EBS made headlines after it reported the popularity of the Chinese yuan on its trading platform, which achieved the distinction of being the third most traded currency on its platform.

The yuan’s surge on EBS, as well as the broader industry, was notable given its supplanting of traditional pairs such as the USD/CHF and EUR/JPY on one of its main independent venues where banks trade currency baskets. According to officials at EBS Brokertec, the insatiable appetite for the yuan or renminbi has been upwards of 50% YoY.