ICAP, the world’s leading interdealer broker, announces today that average daily volumes on the BrokerTec and EBS platforms for April were US$714.2bn, a decrease of 5% month-on-month. This reflects the seasonal slowdown over the Easter period. For April year-on-year volume, there was a decrease of 13%.
Average daily spot FX volumes on the EBS platform were $109.7bn, down 11% month-on-month and down 26% year-on-year.
Average daily volumes in fixed income products on the BrokerTec platform were $604.5bn, a decrease of 4% on the previous month and a decrease of 10% year-on-year.
Overall repo volumes were $494bn in April, flat month-on-month and down 8% year-on-year, the latter reflecting a 10% decrease in US repo and a 7% decrease in European repo. Average daily US Treasury volumes on BrokerTec were US$110.5bn, a decrease of 16% month-on-month and 19% year-on-year.
ICAP reports all of its electronic broking volumes on a single count basis.