ICAP electronic fixed-income broking volumes reach record levels

London - 5 March 2008

ICAP (IAP.L), the world’s premier interdealer broker, announced on Wednesday that average daily electronic broking volumes in fixed-income products reached record levels in February. Fixed-income volumes traded on ICAP’s BrokerTec platform -including U.S. Treasury products, EU repo and U.S. repo - increased 23 percent year on year in February to US $692.8 billion (February 2007: $562.1 bn), the highest level ever. Average daily electronic broking volumes for all four categories (US Treasury products, EU repo, U.S. repo and spot FX) reached $910 billion, its second highest level after August 2007.

Spot FX traded on ICAP’s electronic platform EBS also increased 34 percent year on year to an average daily volume of $217.2 billion (February 2007: $ 162.6 billion). Average daily spot FX trading on EBS is also up 32 percent for the 12 months ending 29 February 2008.

Average daily electronic broking volumes in U.S. Treasury products increased 38 percent year on year to $187.7 billion in February, and 32 percent for the 12 months ending 29 February 2008. Average daily electronic broking volumes of U.S. and EU repo products reached $505.1 billion in February, an increase of 19 percent on February 2007.

“We continue to see strong electronic broking volumes across our diverse product portfolio on both the BrokerTec and EBS platforms as volatility continues unabated,” said David Rutter, Deputy CEO, ICAP Electronic Broking.

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