EBS Posts More FX Trading Growth
Beyond the remarkable trading activity that took place in Japan, the big surprise in January’s volume data was a 46% month over month jump at EBS. The increase led the ECN FX platform to take the top spot among publicly reporting venues as it leaped above Thomson Reuters which held the pole position during 2012. Following those figures, EBS posted its February volume today. For the month, average daily volume (ADV) was $149 billion, a 5% increase from January’s $141.3 billion number.
During the month, ICAP’s other trading venues also saw growth, with US Treasury, US Repo, and European Repo trading all posting single digit month over month growth.
The highlight though was in the EBS FX unit. After struggling during the majority of 2012, which led to a change of dealing rules being implemented, that sacrificed tighter spreads for larger Market Depth Market Depth Market Depth is a characteristic of a given market and its ability to handle large order sizes without materially affecting the price of the underlying asset or currency pair. Broad-based definitions of market depth characterize it as a function of liquidity and trading volume.In its most simplistic sense, market depth reflects a real-time list displaying the quantity to be sold versus unit price. This in turn is organized by price level and is reflective of real-time market activity. In theory, Market Depth is a characteristic of a given market and its ability to handle large order sizes without materially affecting the price of the underlying asset or currency pair. Broad-based definitions of market depth characterize it as a function of liquidity and trading volume.In its most simplistic sense, market depth reflects a real-time list displaying the quantity to be sold versus unit price. This in turn is organized by price level and is reflective of real-time market activity. In theory, Read this Term, the venue appears to have regained its stride. Also, with the company’s relationship based Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, EBS Direct, poised to be fully launched soon, ICAP’s FX division could see further market share gains. With FXall already utilizing both a relationship and anonymous trading platform, and Thomson Reuters integrating more of the two groups together, we should be seeing the competition of venue offerings intensify during 2013.
Beyond the remarkable trading activity that took place in Japan, the big surprise in January’s volume data was a 46% month over month jump at EBS. The increase led the ECN FX platform to take the top spot among publicly reporting venues as it leaped above Thomson Reuters which held the pole position during 2012. Following those figures, EBS posted its February volume today. For the month, average daily volume (ADV) was $149 billion, a 5% increase from January’s $141.3 billion number.
During the month, ICAP’s other trading venues also saw growth, with US Treasury, US Repo, and European Repo trading all posting single digit month over month growth.
The highlight though was in the EBS FX unit. After struggling during the majority of 2012, which led to a change of dealing rules being implemented, that sacrificed tighter spreads for larger Market Depth Market Depth Market Depth is a characteristic of a given market and its ability to handle large order sizes without materially affecting the price of the underlying asset or currency pair. Broad-based definitions of market depth characterize it as a function of liquidity and trading volume.In its most simplistic sense, market depth reflects a real-time list displaying the quantity to be sold versus unit price. This in turn is organized by price level and is reflective of real-time market activity. In theory, Market Depth is a characteristic of a given market and its ability to handle large order sizes without materially affecting the price of the underlying asset or currency pair. Broad-based definitions of market depth characterize it as a function of liquidity and trading volume.In its most simplistic sense, market depth reflects a real-time list displaying the quantity to be sold versus unit price. This in turn is organized by price level and is reflective of real-time market activity. In theory, Read this Term, the venue appears to have regained its stride. Also, with the company’s relationship based Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, EBS Direct, poised to be fully launched soon, ICAP’s FX division could see further market share gains. With FXall already utilizing both a relationship and anonymous trading platform, and Thomson Reuters integrating more of the two groups together, we should be seeing the competition of venue offerings intensify during 2013.