ICAP Issues Q1 Trading Update, EBS Direct Shows Strong Growth

ICAP has just released a vague trading update regarding its first quarter results today in a press release, outlining that while trading activity has contracted overall due to the ongoing slowdown in financial markets gyrations, the company is expecting results in line with the majority of forecasters who are covering the company’s share price performance.

With the current estimate by forecasters for the year-end March 2014, ranging between $443 and $466 million (£266 to £280 million) the consensus estimate centers around $454 million (£273 million) in revenues, the company has outlined that during February and March the revenue from the group’s Global Broking division has dwindled by 14% when compared to last year.

In contrast, the Electronic Markets division, headed by ICAP’s new EBS Direct service has been performing strongly, due to increased Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term surrounding the FED tapering debate and geopolitical tensions.

The company concluded the trading update stating that it has successfully refinanced its 7.5% €300 million bond with a 3.125% bond maturing in March 2019. The full details about the quarter will be published on May 14th, 2014, and Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates' reporters will cover the story in a timely manner.