EBS December FX volumes are lowest since 2005!

ICAP’s EBS losing ground to FXall and Thomson Reuters in the FX ECN business.

With competitors showing mixed results in what is usually a slow December FX trading season, ICAP’s EBS unit reported its lowest monthly volumes since 2005 (!!), at $91.8 billion (average daily volume) 12% off last month and 4% below last year December.

EBS’s new management, led by Gil Mandelzis, has been actively taking steps such as launching a disclosed-liquidity service, EBS Direct, which would directly compete with FXall’s Relationship Trading unit, and acquiring ClientKnowledge, a London-based liquidity optimisation firm specialising in FX. Time will tell if the trend can be reversed…

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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