Daily FX volumes on EBS dip in Feb after strong start to 2014
LONDON, March 5
LONDON, March 5 (Reuters) - Average foreign exchange spot volumes traded on the EBS platform fell 5 percent in February from January, parent company ICAP said on Wednesday.
Daily volumes traded edged down to $83.5 billion from $87.5 billion in January, but were still up from $71 billion in December as a selloff in emerging market currencies and subsequent flows into more safe-haven and liquid units like the yen, the Swiss franc and the dollar shored up volumes.
February's volumes were down 44 percent compared with $149 billion in the same month last year.
Part of the reason for the surge in trading in the early part of last year was because investors were busy selling the yen and buying the dollar and the euro as they positioned for massive monetary stimulus from the Bank of Japan.
EBS, which competes with Thomson Reuters in the FX dealing business, is the leading liquidity provider for the most widely traded currencies - the euro, yen and Swiss franc.
Thomson Reuters is strong in 'Commonwealth' currencies such as the British pound and the Australian, Canadian and New Zealand dollars.