Icap's FX revenue growth down in 08/09
LONDON - Foreign exchange revenue growth at Icap slowed for the year ending March 31, as average daily trading volumes on EBS Spot fell 3% to $193 billion.
In the interdealer broker's annual results release last week (May 19), foreign exchange revenues across voice and electronic broking registered £215 million ($333 million). This represented a year-on-year increase of 9%, but was down on the 23% leap experienced from 2007 to 2008.
Forex revenues were the second-largest business line
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