April 4, 2013 / 10:06 AM / in 5 years

EBS FX spot volumes for March fall 19 pct month-on-month

LONDON, April 4 (Reuters) - Average daily foreign exchange spot volumes on the EBS trading platform fell 19 percent in March from February, parent company ICAP said on Thursday.

Volumes traded dropped to $120.4 billion from $149 billion. The latest figures also showed a drop of 2 percent from March 2012, when volumes totalled $122.7 billion.

A spokeswoman for ICAP said the decline was down to renewed concerns among investors about the euro zone as a financial crisis unfolded in Cyprus, and quieter markets in the week before the Easter holiday.

There was a surge in foreign exchange activity in January and February, when many banks reported record volumes, particularly in the Japanese yen.

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.

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