Icap sees steady NDF volume on Sef

- By Robert Mackenzie Smith
- 24 Jan 2014

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Icap's swap execution facility (Sef) looks to be attracting the most activity in foreign exchange, averaging a daily volume of $6 billion in non-deliverable forwards (NDF) since October, while trading technology vendor Integral has reported just one NDF trade on its Sef since launch.

Icap's reported trades, available online, indicate just over $6 billion has been traded in average daily volume, although that figure includes voice trading booked onto its Sef, which accounts for roughly half the

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