...but volumes down at EBS and Icap
Talk that April was the quietest month for some time in FX has been substantiated with the release of volume data from Icap and the CME. Daily turnover on Icap’s EBS platform averaged $121.6 billion, down from $147.2 billion in March. The decline was even more pronounced when measured against April 2008, when turnover averaged $230.5 billion. Over at the CME, average daily turnover in its FX futures and options was 451,000 contracts or, expressed in notional terms, $52 billion. This was a 26% decline on turnover in April 2008.