January’s trend reversal was a one off event – growth continues to be stifled at the UK brokerage
As we are getting the latest report from UK brokerage ICAP (LON:IAP) on volumes traded over its EBS platform the numbers are anything but disappointing. A total of $83.5 billion have shaken hands over the company’s electronic dealing platform, which was drastically lower by 44% from last year’s figures, while only 5% lower when compared to January 2014 figures.
The challenges for the company are ongoing, and we are not really expecting things to change dramatically soon, as the company plans to use its new debt offering to refinance existing obligations. With volatility being benign, foreign exchange markets are losing traction with institutional investors when compared to early 2013. We will be curious how the company’s numbers evolve as forex markets sort of ‘get going’. Only the future can tell, until then stay tuned to LeapRate for more volumes reports.
For the full press releaee visit ICAP’s website.