ICAP’s EBS posts FX volumes rise in February

Has EBS recaptured its lead in the Forex ECN business over rivals Thomson Reuters and FXall?

ICAP’s Forex ECN unit EBS reported February FX trading volumes at $149 billion (average daily volume for the month), up 5% from January and up 18% from last year February — but still below the above-$150-billion-per-day levels EBS saw throughout most of 2011.

Nevertheless, EBS has made a very quick and nice comeback from a disastrous 2012 — just two months prior, December 2012, saw EBS’s lowest volumes since 2005. Feb 2013’s $149 billion represents EBS’s highest volumes since October 2011.

Will EBS be able to hold off rivals Thomson Reuters and its recently acquired FXall unit — especially as those two units are in the process of merging under the old FXall management — to regain the title of #1 Forex ECN? We’ll know more in a few days when Thomson Reuters and FXall report, but this promises to be a long, drawn out battle. Stay tuned….

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

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