EBS October FX volume drops 46 pct from year ago

Wed Nov 7, 2012 9:06am EST
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NEW YORK Nov 7 (Reuters) - Average daily foreign exchange spot volume traded on the EBS trading platform in October dropped 46 percent from year-ago levels to $92.6 billion, parent company ICAP said on Wednesday.

The average daily spot FX volume was down 17 percent month over month, the firm said. Despite the impact of Hurricane Sandy, the EBS platform remained fully operational , ICAP said.

At its peak, EBS did more than $250 billion in daily volume in February 2008.

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 so-called Commonwealth currencies that include the British pound as well as Australian, Canadian and New Zealand dollars.