On the same day that EBS BrokerTec announced that it was acquiring Molten Markets to bolster their FX trading services, they also revealed a decline in trading last month. During September, average daily volumes (ADV) fell from 11% in August to $89.4 billion. The trading decline wipes out what had been solid momentum of Asian currencies during the second half of August when EBS reported to Finance Magnates achieving record volumes for CNH and Asian NDFs. The electronic platform also benefited in August from their strong position trading the Japanese yen which saw increased volatility as a safe haven currency that month.
The volumes also marked a decline from the same period in 2014, with activity lower by 24%. Last September began a series of strong trading months to end 2014.
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In addition to FX, ICAO reported fixed income trading volumes in their BrokerTec electronic trading platforms. Trading was led by US Repo securities that achieved 3% month over month growth to $240.2 billion in ADV. However, US Treasury volumes fell 11% to ADV of $170.1 billion. Volumes of US fixed income securities were affected by last month’s Fed Meeting where, despite rising expectations of a rate hike, yields remained at record lows.