Voice broking saves Icap's FX revenues in Q1
LONDON - A reversion to voice broking by Icap's foreign exchange clients prevented FX revenues from experiencing the sharp fall seen on electronic broking system EBS Spot in the first quarter, Icap said last week.
In its interim statement released on July 15, Icap said average daily volumes on the electronic spot-broking system were down 37% to $134.5 billion in Q1, versus the same period last year. However, the broker said a rise in voice broking shouldered the fall in revenues from the
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