ICAP's EBS Foreign Exchange Volumes Rise 38% In September to $117 bln Daily

Interbroker-dealer ICAP, has announced in a regulatory filing its latest figures depicting the shift of volume growth trends on the foreign Exchange market in September. The foreign exchange volume numbers on the company's EBS platform have totaled $117.9 billion daily.

This represents an increase by 38% when compared to August and 45% when compared to last year's numbers. The company is in tune with the broad trend across the industry observed last month.

The European Central Bank embarked on surprisingly substantial easing efforts, which drove the euro to two-year lows, while worries about the impact of the sales tax hike in April continued to haunt the Japanese economy and the Japanese yen, which hit multi-year lows around ¥110 per US dollar.

EBS_September — EBS Average Daily Volumes, Single Count

The total amount of electronic trading including EBS, US Treasuries, Repos and European Repos has been reported at $772 billion, which is higher by 11% from a month ago and higher by 8% than September 2013.

"As well as strong directional trades in majors such as EUR/USD there continued to be structural growth in Emerging Market and NDF (Non Deliverable Forwards) currencies on EBS Market," an EBS spokesperson stated to Forex Magnates.

The company's new foreign exchange offering continued to gain traction with the company stating, "EBS Direct continued to see momentum - in our trading update on September 30 we disclosed $19bn ADV (Average Daily Volumes) for September and a $25bn ADV record day (also in September)."

This represents an increase by 38% when compared to August and 45% when compared to last year's numbers. The company is in tune with the broad trend across the industry observed last month.