ICAP-owned interdealer currencies broker EBS said the volume of trades it had handled in April plummeted 11% on the month and 26% compared to the same time last year, with the average daily volume of trades now standing at $109.7 billion.
ICAP (>> ICAP plc) attributed the slip in performance to the "seasonal slowdown over Easter." Still, the decline in volumes was sharper than that seen by the company's main competitor, Thomson Reuters (TRI).
Reuters Thursday that its average daily trading volume fell 6% to $130 billion last month from April 2011 on the company's Thomson Reuters Dealing, Matching and Reuters Trading for FX platforms.
ICAP said its total electronic broking volumes on its BrokerTec and EBS platforms were also down 5% compared to March and 13% compared to the same time last year.
-By Eva Szalay, Dow Jones Newswires; 44 20 7842 9305; ([email protected]) @djfxtrader