EBS currency volumes dip in April
LONDON May 6 (Reuters) - Foreign exchange spot volumes on the EBS trading platform fell back below $100 billion a day on average in April compared with March, an at times frantic retreat into the dollar at the end of the month failing to prod volumes higher.
Trading on EBS - the main venue for banks and other major institutions to trade the euro, yen and Swiss franc against the dollar - still rose 41 percent compared with a year ago, when the platform was just emerging from a prolonged drop in volumes.
But volumes on the ICAP-owned service, which competes with Thomson Reuters, Germany's 360T and a handful of smaller providers, fell 15 percent to $96.9 billion in April compared with $114.5 billion a day in March.
The figures all reflect a recovery since the middle of last year in the volatility of currency rates that traders rely on to drive client interest and returns.
Figures from settlement service CLS last week showed overall volumes in the world's largest financial market rose to $5.15 trillion a day in March, from $4.87 trillion in February. (Reporting by Jemima Kelly and Patrick Graham, editing by Anirban Nag Editing by Jeremy Gaunt)
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