Interdealer broker ICAP is selling its brokering business and more to Tullett Prebon in an arrangement that both companies say will lead to $91 million in savings and streamlined support for post-trade services, transaction processing and trading data offerings. The move is seen as a response to challenging times for interdealer brokers who face a… Read More >>
Barclays Proposes ‘Ice Breaker’ $94M Settlement for Euribor Case
Barclays has stepped forward and proposed a potentially trend-setting $94 million settlement with U.S. authorities over the antitrust case brought against it and 10 other banks over allegations they commandeered the European Interbank Offered Rate (Euribor) to their advantage. This proposed settlement for Sullivan et al v Barclays Plc, case number 13-02811, is before Judge… Read More >>
EBS BrokerTec Solidifies Post-Trade, FX Support
EBS BrokerTec, the electronic foreign exchange (FX) and fixed income business group of interdealer broker ICAP, is acquiring Molten Markets Inc., an FX technology provider for asset managers and pension funds, and the combination is expected to provide enhanced post-trade support. “This is a full execution management system [EMS] where clients can organize all of… Read More >>
ICAP Invests More in Recs Upstart Duco
Interdealer broker ICAP, a markets operator and provider of post-trade risk mitigation and information services, reports that it has made an additional investment in Duco, a London-based fintech provider of hosted reconciliation services. Terms of the new investment, made via Euclid Opportunities, ICAP’s early-stage fintech funding business, which first invested in Duco in 2012, were… Read More >>
ICAP’s EBS BrokerTec Combines Executive Team
Interdealer broker ICAP’s EBS BrokerTec, formed at the end of 2014 by combining ICAP’s EBS FX electronic trading platform and its BrokerTec fixed income electronic trading platform, reports that it has now formed a combined EBS BrokerTec executive management team. In addition to being a markets operator, ICAP is a provider of post-trade risk mitigation… Read More >>
EBS BrokerTec to Incorporate MyTreasury
EBS BrokerTec, a provider of electronic foreign exchange and fixed income trading platforms, is adding the money market fund platform MyTreasury to its product portfolio as part of the company’s multi-product expansion strategy. EBS BrokerTec and MyTreasury are owned by interdealer broker ICAP. In addition, EBS BrokerTec will be including an FX offering with MyTreasury, which… Read More >>
ICAP Names CEO for Post-Trade Services
Interdealer-broker and post-trade IT vendor ICAP has appointed Jenny Knott as its new CEO of post-trade risk and information services, officials say. Knott joins from the African financial services group at Standard Bank Group, where she was CEO of Standard Bank Plc and CIB International, and most recently served as strategic advisor to the group… Read More >>
ICAP SVP to Focus on New Fixed Income Products
Interdealer broker ICAP has appointed Ted Bragg to be its senior vice president of fixed income product initiatives in the ICAP US Securities group effectively immediately, officials say. In his new role, Bragg will be based in New York and will be responsible for “creating and developing new hybrid fixed income products for ICAP’s US-based… Read More >>
EBS and BrokerTec Make Strides in Merging Businesses
EBS BrokerTec, interdealer-broker ICAP’s electronic foreign exchange and fixed income business, has announced that it’s made significant strides in combining the businesses of EBS and BrokerTec since they merged divisions six months ago, officials say. EBS BrokerTec has combined its sales, support and on-boarding teams, allowing “the business to leverage its scale and reach more… Read More >>
ICAP and BATS Partner for EFP Clearing
The BATS Chi-X Europe stock exchange has partnered with interdealer broker ICAP to combine several services that will soon enable market participants to trade fully cleared equity index exchange for physical (EFP) transactions anonymously, officials say. An EFP involves the simultaneous exchange between two parties of a futures position for a position in the underlying… Read More >>
