ICAP announces average daily electronic broking volumes of US$674 bn for October 2012

London, 7 November 2012 – ICAP (IAP.L), the world’s leading interdealer broker and provider of post trade risk and information services, announces today that average daily volumes for October 2012 were 6% lower than in September 2012 and 17% lower than October 2011.

Average daily volumes in fixed income products on the BrokerTec platform were $581.5bn, a decrease of 4% on the previous month and a decrease of 9% year-on-year.  Overall repo volumes were $465.8bn in October, down 2% month-on-month and down 8% year-on-year, the latter reflecting a 7% decrease in US repo and a 10% decrease in European repo.  Average daily US Treasury volumes on BrokerTec were US$115.7bn, a decrease of 12% month-on-month and 10% year-on-year. 

Average daily spot FX volumes on the EBS platform were $92.6bn, down 17% month-on-month and down 46% year-on-year. 

Despite the devastating impact of Hurricane Sandy, both the BrokerTec and EBS platforms remained fully operational. Inevitably the closure of the US bond market and the ensuing widespread disruption of New York’s financial district caused by the hurricane impacted volumes towards the end of the month.  It is too early to gauge how long this disruption will continue.

ICAP reports all of its electronic broking volumes on a single count basis.  US Treasury average daily volumes in October 2012 were calculated based on 21 business days.  This excludes the full day closure of the US Treasury market on 30 October 2012. 


Brigitte Trafford                      Director of Corporate Affairs               +44 (0) 20 7050 7103
Alex Dee                                 Head of Investor Relations                 +44 (0) 20 7050 7123
Andrea Coleman                 Maitland                                                   +44 (0) 20 7305 0420

About ICAP
ICAP is the world’s leading interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios. For more information go to www.icap.com.