EBS outpaces CME
Although Goldman Sachs may be predicting that the OTC markets will migrate on to exchanges, it seems that, in FX at least, they are happy where they are.
Both EBS and the CME have reported that their volumes are continuing to grow, and the expansion last month was greater in the OTC market.
Volume on Icap’s EBS platform increased 22% in October over the same month in 2007 to a daily average of $243.8 billion. The CME’s futures volumes rose by a more modest 4% to a notional value of $72 billion. The exchange also reported a 61% rise in the electronic trading of its option contracts to a daily average of $2.0 billion. Overall options volumes increased to a daily average of $3.4 billion.