Institutional Investor, The 2016 Tech 50: Michael Spencer
ICAP CEO Michael Spencer is highlighted in the 2016 Institutional Investor Tech 50 feature article
FX Week, CLS-TriOptima win Best Post-Trade Services award
TriOptima partnered with CLS to launch the triReduce CLS Forward FX Compression Service in October 2015, bringing post-trade compression to FX derivatives. The multilateral service helps to reduce operational risks, costs and counterparty credit risk while boosting capital efficiency. Less than a year old, CLS-TriOptima’s work has led to the firm receiving the Best Post-Trade Services Provider award.
IFR: Eurex links with TriOptima for swaps compression
EurexOTC Clear has become the sixth clearinghouse to employ TriOptima’s triReduce product to complete its first multilateral swaps compression cycle, cementing the service as a key market infrastructure that is fast becoming a must-have for swaps clearinghouses as they go head-to-head for business. Swaps compression has become a vital service for clearinghouse operators as dealers accelerate the elimination of legacy trades due to rising capital charges that have made them costly to hold. The leverage ratio under Basel III, which is based on gross notional exposures, has particularly driven dealers to reduce their books of such trades.
FT: US Treasury debates new-for-old bond swap
The US Treasury has debated a sweeping overhaul of the $13tn government bond market, including a proposal to buy back old debt as officials focus on the health of trading in a core asset of many global investment portfolios. ‘’Dealers would be in a better position to provide liquidity to customers looking to sell off-the-runs if there was a known buyback schedule that would allow them to unload the position,’’ said Lou Crandall, economist at Wrightson Icap.
MarketsMedia: ICAP Revamps Web Trading
ICAP Global Broking plans to turn its Fusion multi-asset trading, market-data, and news portal into a fully compliant HTML5 application. The broker is running its Apache Flex-based application in a container provided by OpenFin, which allows rich Internet applications like Fusion to run outside a Web browser.
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