ICAP’s average daily electronic broking volume up 32 percent in June

London - 4 July 2007

ICAP plc (IAP.L), the world’s premier interdealer broker, announced today that average daily electronic broking volumes in June increased 32 percent year on year on the back of increased volatility in the global financial markets to reach a new record level. Average daily electronic broking volumes in June were USD $842 billion, the highest level ever. Daily volume exceeded $1 trillion ($1,000 billion) on both Thursday June 7 and Friday June 8. The last similarly active period was in late February/early March 2007.

Chief Executive of ICAP, Michael Spencer, said “volatility in interest rates, foreign exchange and credit markets ensured that both electronic and voice broking volumes increased in June. In recent weeks the equity markets have responded negatively to the turbulence in the broader financial markets which in turn have boosted ICAP’s broking volumes and revenues.

U.S Treasury products saw particularly strong trading with an average daily volume of $168 billion traded in June. Increased activity in the global FX markets also pushed average daily volumes on ICAP’s spot foreign exchange platform EBS to $167 billion during the month.

In addition, voice broking activity in both single name credit default swap (CDS) and index products also increased to its highest level since March 2007. ICAP saw strong trading across most CDS product categories with volumes far in excess of previous months in Loan CDS trading.”

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