As brokerages around the world begin to divulge their electronic trading volume figures for FX, it is becoming clearer that the entire industry is heading out of the doldrums which have plagued so many firms during the entirety of 2014 so far.
Today, ICAP subsidiary EBS has announced its monthly trading metrics, which stand at $117.9 billion on average per day for the month of September, a substantial 38% higher than the $85.5 billion achieved in August this year.
More remarkably, EBS’s achievement in September marks a milestone in which the firm has traversed the $100 billion average daily volume milestone in over a year, and is 45% higher than that of last September, the twilight month of a period which heralded record volumes for many firms across the globe.
With total electronic brokerage average daily volumes across all of ICAP’s business units standing at $772.1 billion, up from $696.8 in August, it is clear that one seventh of the firm’s entire business is attributable to FX.
With the battle for supremacy in the specialist ECN sector becoming ever more fierce between Thomson Reuters’ FXall division and EBS, it is likely that much boardroom anticipation is abound in the advent of the release of FXall’s figures for September.
For the full announcement from ICAP, click here.