Trading volumes on inter-dealer broker ICAP’s electronic broking platforms EBS and BrokerTec reached $945 billion in August, an increase of 51 percent on August 2006, says the firm. Approximately $1.3 trillion were traded on EBS and BrokerTec on Thursday 16 August, an increase of almost $200 billion on the firm’s previous record. This was followed by $1.2 trillion on Friday 17 August.
According to ICAP, Spot FX trading on EBS reached $456 billion on 16 August. This was followed on 17 August by a trading day of $411 billion.
Electronically traded fixed income products, U.S. treasuries, European repo and US repo, reached $819 billion on 16 August, breaking the firm’s previous record of $809 billion. Average daily volumes in these products in August was $703 billion.
“Both the EBS and BrokerTec platforms have proven their value to customers with strong liquidity, tight spreads and robust performances in the face of highly volatile trading,” comments Michael Spencer, group chief executive, ICAP.