ICAP, an interdealer broker, announced that average daily electronic broking volumes for the second quarter of 2008 increased by 7% over the corresponding period in 2007 to $825.5 billion (Q2 2007: $769.7 billion). Average daily volumes in the 12 months ended 30 June 2008 increased 24% on the previous 12 months to $854.5 billion (2007: $691.6 billion).
Average daily spot FX volumes on the EBS platform in Q2 2008 of $213.4 billion were 40% higher than the corresponding figure for Q2 2007 ($152.7 billion). This compares to 44% growth recorded in average daily spot FX volumes during the 12 month period ended 30 June, from $149.2 billion to $214.5 billion. Average daily volumes on the EBS platform in June also increased 29% year on year to $216.3 billion (June 2007: $167.6 billion).
In the 12 months ended 30 June 2008, average daily volumes in fixed-income products traded on ICAPs BrokerTec platform increased 18% to $640.1 billion (2007: $542.4 billion). Volumes in US Treasury products have increased 29% in the same period.
Each month ICAP publishes average daily volume data in spot FX, US Treasury and European and US repo products. This monthly data, including a year on year analysis, is available on www.icap.com.