ICAP's EBS Volumes Drop by 8% During the Month of July, Down 21% YoY

Interbroker-dealer ICAP, has announced in a regulatory filing its latest batch of FX volume numbers on its EBS platform. After a back-to-back monthly increase, the company is reporting that the average daily volumes (ADV) have totaled to $70.6 billion during the month of July, which is lower by 8% when compared to the month of June and 21% lower than a year ago.

The total amount of electronic trading including US Treasuries, Repos and European Repos has been reported at were $677 billion, which is lower by 7% from a month ago and more or less flat when compared to July 2013. Multiyear low 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 is contributing to lower volumes on the currency markets, as the usual summer slowdown sets in.

While the company has been reporting about FX volumes figures transacted on its EBS Direct service increasing by 70% MoM since launching back in November of last year, the bulk of FX volumes is still moderating. Year-on-year growth in US bond trading and European repo transactions have counterbalanced the overall weight of ICAP's electronic broking business contributing to a flat year-on-year reading.