ICAP, a leading interdealer broker, announces today that average daily volumes on the BrokerTec and EBS platforms for September were US$716.8bn, 11% higher than in August. For the month of September there was a year-on-year decrease of 16%.
Average daily volumes in fixed income products on the BrokerTec platform were $604.8bn, an increase of 10% on the previous month and a decrease of 10% year-on-year.
September saw an improvement in market activity and greater confidence in the European bond markets, following ECB proposals to address eurozone sovereign debt issues.
Average daily US Treasury volumes on BrokerTec were US$131.9bn, the highest since August 2011; this represents an increase of 24% month-on-month and 4% year-on-year. Overall repo volumes were $473.0bn in September, up 7% month-on-month and down 14% year-on-year, the latter reflecting a 7% decrease in US repo and an 18% decrease in European repo.
Average daily spot FX volumes on the EBS platform were $111.9bn, up 17% month-on-month and down 39% year-on-year.