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.