The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Volatility boosts Icap

Icap appears to be making hay while the metaphorical sun shines.

In its interim management statement released yesterday (Thursday), which covers the period from October 1 2007 to date and the outlook for the rest of the financial year to March 31 2008, the company said: “Icap’s markets continue to display strong, long-term structural growth with an underlying, medium-term industry revenue growth rate estimated to be at least 10% per annum. This structural growth rate covers both periods when volatility and volumes in the wholesale financial markets can be very high and also quieter periods when these markets are more subdued.”

It added: “Overall, the period from October 1 2007 has had higher than average levels of volatility, and consequently, Icap’s revenue for the year to date is significantly ahead of last year.” The cash cow that is EBS performed strongly, posting daily average volume of $200 billion in the last quarter of 2007. This was an increase of 42% over the same period in 2006, driven by volatility and increased algorithmic trading. The market seemed to like the news, and at the time of writing Icap’s shares were up 11.5% at 650p.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree