ICAP, the world’s leading interdealer broker, announces today that average daily volumes on the BrokerTec and EBS platforms for June were US$707.6bn, down 1% from May. For the month of June, there was a year-on-year decrease of 22%.
Average daily spot FX volumes on the EBS platform were $137.6bn, up 5% month-on-month and down 21% year-on-year. The year-on-year decrease reflects continuing uncertainty over developments in the eurozone and signs of slowdown in global growth.
Average daily volumes in fixed income products on the BrokerTec platform were $570.0bn, a decrease of 2% on the previous month and 22% year-on-year.
Overall repo volumes were $447.8bn in June, down 4% month-on-month and 22% year-on-year, the latter reflecting a 18% decrease in US repo and a 25% decrease in European repo.
Average daily US Treasury volumes on BrokerTec were US$122.3bn, an increase of 8% month-on-month and a decrease of 23% year-on-year. Ongoing efforts by the US Federal Reserve to reduce long-term borrowing costs have kept US Treasury rates near record lows and dampened volumes in the secondary market.
ICAP reports all of its electronic broking volumes on a single count basis.