EBS, the electronic FX brokerage division of ICAP Plc (LON:IAP) has today reported its operating metrics for March 2015, clearly demonstrating a recovery from February’s low point.
Average daily FX volume achieved in March 2015 was $114.5 billion, representing a 22% increase compared with $94.1 billion in February.
Although trading volumes at EBS increased in March, it is worthy of note that the increment merely restored an equilibrium as February was a month in which volumes were 27.4% down compared with the $129.6 billion recorded in January 2015.
February’s drop was partially attributable to the industry-wide lull in volatility which followed January’s latter two weeks, where market activity soared across many firms and venues following the rapidly fluctuating currency values which ensued when the Swiss National Bank removed its 1.20 floor on the EURCHF pair.
Indeed, during February, EBS experienced its lowest average daily volume figures since August 2014 when the Forex market was affected by the traditional summer slowdown, associated with low volatility.
During March, EBS’ total FX trading volume increased marginally from $697 billion in February to $699.9 billion in March, an increment so negligible that it does not equate to 1%.
For the official announcement from ICAP, click here.