EBS Faced Difficult August as Volumes Below $100 billion
EBS one of the worlds largest inter dealer FX venues announced trade volumes for the month of August. The broker,
EBS one of the worlds largest inter dealer FX venues announced trade volumes for the month of August. The broker, part of ICAP, announced volumes of $95.5 billion a day, the figure comes on the back of negative sentiment in the market from the euro zone debt crisis.
EBS has been recording it’s volume since 2006 and August 2012 is one of the poorest months. Summer 2011 was extremely volatile and brokers across the FX space witnessed record volumes. EBS primarily deals with US dollar based currencies.
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EBS CEO Gil Mandelzis was promoted to manage full group operations at the worlds largest inter dealer broker.
ICAP is currently trading in London at 316.97.
ICAP introduced new measures to manage the risk high frequency traders pose, the flash crash highlighted how vulnerable the market is and most recently the ‘Knight Glitch’ has made the market react. New rules will mean that ICAP will restrict pricing to four places after the decimal point in a quotation for some currencies, reducing the chances to exploit small price discrepancies between traders.
Well definitely no surprises there. Anyone who was actively trading throughout the month knew the numbers would be really low. It does look like the the various releases and central bank meetings this week are starting to open things up a bit so hopefully there will be some good volatility and trading opportunities in the weeks ahead.