BrokerTec and MTS add Spain index to RepoFunds Rate
London and New York, 22 September 2016 – BrokerTec, ICAP’s global electronic fixed income trading platform, and MTS, a leading fixed income electronic trading venue in Europe that is majority-owned by the London Stock Exchange Group, ...
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ICAP plc appoints Seth Johnson CEO of EBS BrokerTec
London, 9 September 2016 - ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, is pleased to announce that Seth Johnson, currently Head of Strategy at ICAP’s Global Broking ...
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CoinDesk: Why ICAP Believes Central Banks Could Adopt Digital Currency
ICAP Euclid's Michael McFadgen discusses the Utility Settlement Coin (USC) project.
FOW: Beyond blockchain: ICAP's Euclid on the future of fintech
Euclid Opportunities is supporting young financial technology companies. With the recent focus on distributed ledger-based technology, it can be easy to forget that there’s much more to the world of financial technology than the blockchain; the managing directors of Icap subsidiary Euclid, spoke to FOW about their view on the future of this rapidly evolving market space.
FOW: Basu Choudhury left LCH in March with former ForexClear head Gavin Wells
Icap’s post-trade and risk management firm Traiana has hired an foreign exchange product lead from LCH to boost its foreign exchange product capabilities. Basu Choudhury joined the Icap firm in London this week, a spokesperson confirmed. Choudhury has joined Traiana to increase the firm’s FX product capability in London. He reports to Joanna Davies, head of product at the post-trade firm and has joined to boost Traiana's FX service capabilities for both the buy- and sell-sides.
Institutional Investor: The 2016 Tech 50: Michael Spencer
Long before "fintech" became a buzzword, Michael Spencer was charting a course in that direction for the interdealer brokerage, now known as ICAP, that he founded in 1986. Spencer holds steady at no. 13 in the 2016 Institutional Investor Tech 50 ranking.
The Times: Enjoy the benefits of volatility and risk
It would be surprising if Icap had not hedged ahead of any surprise change in the value of sterling in the light of the EU referendum vote. Its business model, after all, enables banks and institutions to take out derivatives and other instruments to prevent them from being caught out by abrupt movements on money and foreign exchange markets. In the event, the broker was largely protecting itself against a higher pound and the currency went the other way. Icap gets 73 per cent of its revenues in dollars and 14 per cent in euros. The lower pound will have an immediate effect on profits translated from those currencies, but the hedging will limit this in the current financial year to the end of March. The true benefit will kick in during the next financial year and at today’s exchange rate would inflate earnings by 10 per cent.