ICAP, the world’s leading interdealer broker, announces today that average daily volumes on the BrokerTec and EBS platforms for March were US$749.5bn, an increase of 3% month-on-month. For the month, year-on-year, there was a decrease of 11% as market conditions remained subdued.
Average daily spot FX volumes on the EBS platform were $122.7bn, down 3% month-on-month and down 22% year-on-year.
Average daily volumes in fixed income products on the BrokerTec platform were $626.8bn, an increase of 5% on the previous month and a decrease of 9% year-on year.
Overall repo volumes reached $495.1bn in March, up 5% month-on-month and down 5% year-on-year, the latter reflecting a 5% decrease in US repo and a 4% decrease in European repo. Average daily US Treasury volumes on BrokerTec were up 4% month-on-month and decreased 23% year-on-year.
ICAP reports all of its electronic broking volumes on a single count basis.