EBS platform sees "very high" FX volumes post Brexit

LONDON, June 24 (Reuters) - Electronic currency trading platform EBS, owned by inter-dealer broker ICAP (LSE: IAP.L - news) , saw a surge in trading volumes on Friday amid sharp swings in the global foreign exchange market prompted by Britain's vote to leave the European Union.

Banks had put limits on the electronic trading which makes up as much as 80-90 percent of the $5 trillion a day global currency market in the run in to the vote on Thursday, prompting traders to report a drop off in volumes.

But the record-breaking daily moves in the pound and other major currencies passed off relatively smoothly without major gaps in trading.

"The EBS and BrokerTec platforms are experiencing substantial volumes today," ICAP said in a statement. A spokeswoman declined to give details.

The statement also offers some hope to a market where volumes have been suffering in the past few months. On EBS, where the bulk of the trades in dollars, yen and euros are carried out, volumes were down 21 percent in May from a year ago.

Sterling sank 10 percent against the dollar to its weakest in 31 years earlier on Friday, while currencies including the yen and the Swiss franc soared. (Reporting by Anirban Nag; editing by Patrick Graham)