Average daily ICAP electronic broking volumes in fixed-income products reached record levels in February.
Fixed-income volumes traded on ICAPs BrokerTec platform -including USTreasury products, EU repo and US repo – increased 23% year on year in February to $692.8 billion, the highest level ever. Average daily electronic broking volumes for all four categories reached $910 billion, its second highest level after August 2007.
Spot FX traded on ICAPs electronic platform EBS also increased 34% year on year to an average daily volume of $217.2 billion. Average daily spot FX trading on EBS is also up 32% for the 12 months ending 29 February 2008.
Average daily electronic broking volumes in US Treasury products increased 38% year on year to $187.7 billion in February, and 32% for the 12 months ending 29 February 2008. Average daily electronic broking volumes of US and EU repo products reached $505.1 billion in February, an increase of 19% on February 2007.
“We continue to see strong electronic broking volumes across our diverse product portfolio on both the BrokerTec and EBS platforms as volatility continues unabated,” says David Rutter, deputy CEO, ICAP Electronic Broking.