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John Lothian News, Scott Feldman, ICAP Infinity - The Fintech Evolution opens in new window
ICAP's Scott Feldman discusses the Infinity project at NYC event.
08
Dec
2016
(pdf)
Institutional Investor: The Fintech Finance 35: Steve Gibsonopens in new window
Many of the Fintech Finance 35 have "partner" in their titles. Their firms are structured as partnerships but all on the list are partners in a practical day-to-day sense. They are as much strategic advisers and collaborators as they are funders. Steve Gibson, CEO Euclid Opportunities, is ranked number 23. He recalls, "The markets needed new platforms, talent, and management teams to solve new problems of efficiency, scale, capital and resources."
14
Nov
2016
(pdf)
The Trade Derivatives: Will RegTech disrupt Fintech?opens in new window
RegTech only truly entered the financial market lexicon in the last year, yet the sector's rapid growth is telling. Traditional solutions are now being provided in a more efficient way by leveraging new technology, for example cloud computing, according to Ben Pott, Group Head of Government Affairs, ICAP.
07
Oct
2016
www.thetrade-derivatives-digital.com
Waters Technology: Let's Get Digital - Big Banks Consider Digital Currencies on Distributed Ledgersopens in new window
Deutsche Bank, BNY Mellon and Santander, along with ICAP, were the latest to join the trend when they announced their partnership with UBS and Clearmatics to create a Utility Settlement Coin that could be used to clear and settle financial trades on a distributed ledger.
04
Oct
2016
www.waterstechnology.com
South China Morning Post: Yuan globalisation draws foreign service providers and Brexit leaves HK firms on edgeopens in new window
Michael Spencer talks to SCMP about how the yuan becoming more internationalised and integrated into global markets has made it necessary for foreign players offering services for traders (such as ICAP) to extend these services to those trading or settling in the Chinese currency. In a separate article Michael Spencer discusses the impact of Brexit on the Financial Markets.
03
Oct
2016
(pdf)
Risk: Tough times for the real masters of the universeopens in new window
Jenny Knott, chief executive of the post-trade risk and information services at ICAP, discusses how rules tie the hands of bank strategic investing units as fintech opportunities grow
26
Sep
2016
www.risk.net
P&L: And Finally... opens in new window
About 10 months ago the deal was announced to sell ICAP’s voice business to Tullett Prebon. Colin Lambert revisits his view on the potential sale of the business that is left behind, subsequently revealed to be named Nex.
25
Sep
2016
www.profit-loss.com
CoinDesk: Why ICAP Believes Central Banks Could Adopt Digital Currencyopens in new window
ICAP Euclid's Michael McFadgen discusses the Utility Settlement Coin (USC) project.
26
Aug
2016
www.coindesk.com
FOW: Beyond blockchain: ICAP's Euclid on the future of fintechopens in new window
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.
11
Aug
2016
(pdf)
FOW: Basu Choudhury left LCH in March with former ForexClear head Gavin Wellsopens in new window
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.
04
Aug
2016
www.fow.com
Institutional Investor: The 2016 Tech 50: Michael Spenceropens in new window
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.
20
Jul
2016
www.institutionalinvestor.com
The Times: Enjoy the benefits of volatility and riskopens in new window
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.
14
Jul
2016
www.thetimes.co.uk
FX Week: CLS-TriOptima win Best Post-Trade Services awardopens in new window
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.
11
Jul
2016
(pdf)
CoinDesk: ICAP is Building a Blockchain 'Rosetta Stone' to Enhance its Post-Trade Processopens in new window
ICAP has built what it refers to internally as a 'Rosetta Stone' for trades. That description refers to an ancient hieroglyphic text that brought together several languages from antiquity, and opened a pathway to understanding messages encoded in Egyptian ruins. ICAP invokes this term to describe its new system for managing securities post-trade workflow, one it has now encoded into a single business process. It's designed to let any buyer transact with any broker across a wide range of possible trades. To use the current blockchain terminology, the company has written what they describe as an elaborate smart contract. So, it only makes sense the next step would be to introduce an actual blockchain in the system.
01
Jul
2016
www.coindesk.com
Waters Technology: Traiana's Harmony Equity Service Volume Growth Nearly Triplesopens in new window
Allocation volume growth was strongest in Asia as more brokers joined the network. Traiana has seen strong growth in its Harmony Equity Swaps service, particularly in Asia, according to the pre- and post-trade solutions provider. Traiana said the Harmony Equity platform ─ which provides electronic messaging and matching to buy- and sell-side firms for the contract for the difference (CFD) and equity swaps market ─ saw an 185-percent growth in allocation volumes between May 2015 and May 2016, increasing from 144 percent in the same period last year.
28
Jun
2016
www.waterstechnology.com
Waters Technology: ICAP Post Trade Risk and Information CEO - Standards Must be Made to Usher In Smart Contractsopens in new window
Jenny Knott says that being agnostic is necessary to adapt to emerging technologies. Regulators and other organizations should push for standards so the financial industry can work with any new technology that will bring about smart contracts and better data enforcement, said Jenny Knott, chief executive officer of Icap's Post-Trade Risk and Information (PTRI) Services. Knott was speaking at a breakfast briefing hosted by ICAP and was joined by Greg Schvey, CEO of Axoni, and David Thompson, chief operating officer of Traiana. "It is our job to be agnostic so that we can stay agnostic as an industry to the emerging technologies," Knott said. "It's too early to lock yourself into a bespoke language embedded in an underlying technology. We have to stay agnostic, and rather focus on a business process re-engineering."
24
Jun
2016
www.waterstechnology.com
FT: A historic night for the pound that stunned a marketopens in new window
In the increasingly bitter referendum campaign, sterling was the barometer for how global investors believed the British public would vote. So when the UK currency briefly rose above the $1.50 mark about an hour after voting ended late on Thursday, it seemed merely to cement markets’ confidence that the electorate had decided to stick with what they know. However, by the time dawn broke over a divided UK, the market had dragged the value of the pound more than 17 cents lower, thrown the yen, the euro and many other currencies into violent swings and reignited fears of a renewal of currency wars. At ICAP, the brokers who negotiate trades over the phone, around a quarter of the office had been in since 2am. Traders at other houses remarked how a frenetic night had got their body clocks preparing their stomachs for lunch, only to realise it was barely 6am. “It was all hands to the pump,” says a broker. Some were taken aback by the size of moves in the yen, even though it is the go-to currency when investors are seized by risk aversion.
24
Jun
2016
www.ft.com
Leaprate: Abide Financial selected by XTX Markets for FX regulatory reportingopens in new window
Regulatory reporting specialist Abide Financial has announced that it has been appointed by XTX Markets to manage compliance with multi-asset, multi-regime transaction reporting obligations. Abide Financial will be the managed service reporting partner to XTX Markets for transaction reporting across multiple asset classes to satisfy transaction reporting obligations under EMIR, MIFID/MIFIR, SFTR and other regulatory regimes.
14
Jun
2016
www.leaprate.com
Reuters: Clear solution to manage post-trade riskopens in new window
Clearing of FX options looks set to begin later this year, marking the next phase in the industry’s journey to manage post-trade risk. Beyond the expansion of clearing, the introduction of a compression service for FX swaps and forwards has also been heralded as an important development in reducing operational and credit risk as well as enhancing capital efficiency. Launched by CLS and post-trade technology vendor TriOptima in October 2015, the new triReduce service allows non-cleared FX products to benefit from compression.
14
Jun
2016
blogs.thomsonreuters.com
Bloomberg: ICAP Lands Deal for Mainland China’s Yuan-Trading Platformopens in new window
ICAP Plc has landed a contract to provide technology for China’s official inter-bank trading platform, giving Michael Spencer’s company a new cash generator in one of the world’s fastest-growing economies. ICAP will supply fixed-income and currency market technology to China Foreign Exchange Trade System, or CFETS. The deal, which uses ICAP’s EBS BrokerTec systems, is worth $65 million over three years. ICAP will open an office and a development center in Shanghai.
03
Jun
2016
www.bloomberg.com
IFR: Eurex links with TriOptima for swaps compressionopens in new window
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.
05
May
2016
www.ifre.com
FT: US Treasury debates new-for-old bond swap opens in new window
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.
04
May
2016
next.ft.com
MarketsMedia: ICAP Revamps Web Tradingopens in new window
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.
28
Apr
2016
marketsmedia.com
The Trade- HOT 100 LISTopens in new window
In its newly establish HOT 100 List, The Trade has recognised influential and informed individuals that are helping companies navigate market transformation. Laura Craft, director of equities and fixed income product strategy at Traiana is listed in the sell side technology category.
25
Apr
2016
www.thetrade-digital.com
FT Markets: Has the oil price bottomed?opens in new window
Paul Newman, Chairman of ICAP Energy, is among the industry leaders that gathered at the FT Commodities Global Summit in Lausanne. Anjli Raval quizzes delegates on whether the oil price has stabilised.
13
Apr
2016
youtu.be
Bloomberg: Britain Rethinks Cash in Race Osborne Can't Afford to Lose opens in new window
With the enthusiastic support of the British government, a key research focus of the Bank of England cis now on digital money and the blockchain technology underpinning it. The speed with which the digital-currency agenda has captured the imagination of U.K. officials hints at its potential strategic value for both central banking and the economy. Market operator ICAP plc said on Tuesday it has completed a proof of technology test case for a distributed ledger using blockchain.
16
Mar
2016
www.bloomberg.com
Reuters: Broker ICAP says first to use blockchain for trading dataopens in new window
ICAP said that it has become the first to develop a proof of technology to distribute data on trades to customers using blockchain technology. Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction ever conducted. Its proponents say it has the potential to shake up how financial markets operate.It is part of the "fintech" sector that is beginning to catch the eye of regulators as big banks invest in uses of blockchain for critical market infrastructure such as settlement of securities transactions, bond trading and cross-border payments. Banks could save money in middle- and back-office functions by relying on the golden source data to meet different requirements, rather than having to repeatedly "re-validate" the trades in their own systems for each application, ICAP said. "We believe we are the first to do this using distributed ledger and blockchain technology," said Jenny Knott, chief executive of ICAP's Post Trade Risk and Information unit. "What's really transformational is that the banks no longer have to do so much themselves."
15
Mar
2016
www.reuters.com
FOW: ICAP boosts post-trade unit to offer Mifid techopens in new window
ICAP has expanded its post trade risk and information unit (PTRI) to allow it to better- support clients in meeting regulatory requirements under Mifid II.The group has also developed a new ‘Approved Publication Arrangement’ (APA) service. PTRI's solutions will also include Abide Financial – which ICAP invested in last year - will offer ICAP access to a MiFID II/MiFIR Approved Reporting Mechanism (ARM) service. Announced at the FIA’s 41st Annual International Futures Industry Conference in Boca Raton Tuesday, ICAP said that the enhancements to the post-trade and information division will give customers an end-to-end menu of products to help them meet MiFIR/MiFID II cross-asset reporting and processing obligations.
15
Mar
2016
www.fow.com
IFR: Compression slashes US$750trn off swaps notionalsopens in new window
Derivatives users have eliminated US$750trn notional of over-the-counter swaps through TriOptima’s triReduce multilateral compression service, as they slim down derivatives exposures that attract hefty capital and leverage treatment under new regulations. Research completed earlier this year by ISDA found that total notional outstanding in OTC swaps had fallen by approximately 62% as a result of compression.
14
Mar
2016
www.ifre.com
Institutional Investor: 2016 Trading Technology 40: Gil Mandelzisopens in new window
Gil Mandelzis, CEO of EBS BrokerTec, is profiled by Institutional Investor
07
Mar
2016
www.institutionalinvestor.com
Brron's: Jobs Report Shows Economy’s Strengthopens in new window
Recession fears receded last week, based on reassuring news about the real economy. The highlight was the U.S. jobs report for February, released on Friday. The unemployment rate held steady at 4.9% last month, commencing the fourth consecutive year in which the three-month trend in the unemployment rate was either flat or falling. One blemish in the jobs report: the slowdown in growth of average hourly earnings, to a 12-month rate through February of 2.2%, from 2.5% as of January. Yet Wrightson ICAP’s chief economist, Louis Crandall, says the slowdown might be due to a calendar quirk in the way the numbers are reported. So let’s wait a month or two on this one.
05
Mar
2016
www.barrons.com
Financial Times: ICAP chief prepares for radical change to interdealer brokeropens in new window
Profile on ICAP and the future of the company, following the impending transaction with Tullet Prebon. In the coming weeks ICAP's shareholders will vote to approve the sale of its broking business to rival Tullett Prebon in a deal expected to be worth about £1.1bn. New ICAP comprising electronic foreign exchange and fixed income businesses, a growing post-trade services division and a venture capital unit — will be the springboard for Mr Spencer’s newest ambition. “My dream is to create the world-leading, multi-product global electronic transaction network for over-the-counter products,”says Spencer. “Clearly there are some very big incumbents in that space already — Bloomberg, Thomson Reuters, eSpeed, MTS, MarketAxess . . . many FX competitors, but no one really has yet brought all together in a proper, thought-through multi-client proposition.”
25
Feb
2016
next.ft.com
Total Derivatives: The Great Compressionopens in new window
In an environment where banks are facing increasing pressure on balance sheet, heads of rates trading desks have been enthusiastic about the rapid growth of compression services. By matching off trades, compression reduces the outstanding notional held on trading books, bringing down leverage ratios. The demand for compression is such that services are expanding rapidly across products. In January 2016, ICAP’s TriOptima confirmed that it had completed the first ever compression of inflation swaps. Peter Weibel, chief executive of triReduce, cites the impact compression has had on liquidity in the cross currency swap market. “An increasing trend is that the market maker has to reflect a cost in the price of whether or not the asset is eligible for compression,” he says. “There are obviously many reasons why one asset class sees an increase in liquidity, but compression is one way to help it,” he adds.
16
Feb
2016
www.totalderivatives.com
Financial News: Roll of Honour: 20 years of excellence promoting London as a financial centreopens in new window
To celebrate the 20th anniversary of Financial News this year, the publication has announced a shortlist to celebrate the people and firms that have triumphed over the last two decades. Michael Spencer, CEO of ICAP is nominated.
15
Feb
2016
www.efinancialnews.com
Quick Insight: MIFID II Extension opens in new window
Ben Pott, Head of European Affairs at ICAP provides a quick view on the European Commission's extension to the MIFID II implementation date.
11
Feb
2016
www.youtube.com
Profit & Loss: FXPA Unveils New Officers, Board Membersopens in new window
The Foreign Exchange Professionals Association (FXPA) has announced the election of Jill Sigelbaum, EVP and global head of foreign exchange at Traiana, as vice chair. Philip Harris, head of EBS Market was also elected to the board.
08
Feb
2016
fxpa.org
TABB FORUM: Ted Bragg speaks with Alex Tabb about ICAP Sponsored Access Matchingopens in new window
ICAP Managing Director, Ted Bragg speaks with Alex Tabb in a video interview at the TABB Forum Fixed Income 2016 event about the current liquidity challenges in the fixed income market. ICAP is bringing to market the ICAP Sponsored Access Matching (I-SAM) solution which through its partnerships with broker dealers, allows the buyside to access existing liquidity through liquidity pools and a matching model that they previously haven't had access to.
05
Feb
2016
vimeo.com
Financial Times: Risky derivatives trades face higher costsopens in new window
Reform of derivatives enters its final phase this year and tougher rules for banks have aroused fears that other financial institutions will need billions of dollars to remain in the market. In mid-December US regulators finalised their version of global standards that will require users of highly-tailored and illiquid swaps to post margin, or insurance for trading, with their counterparties- usually global banks. It is noted that ICAP-owned TriOptima is introducing services to automate and simplify calculations as tougher rules have been introduced for banks.
04
Feb
2016
next.ft.com
FierceFinance: ICAP plans to offer sponsored access to buy-side firmsopens in new window
In depth article by FierceFinance on the new I-SAM (ICAP Sponsored Access Matching) service which ICAP is planning to roll out to give buy-side firms access to ICAP's inter-dealer liquidity pool through sponsorship by a dealer. The service, which will be offered initially in credit markets, is intended to address some of the liquidity challenges the credit markets are facing.
02
Feb
2016
www.fiercefinanceit.com
The Redback Reporter: Platform profile- EBS Marketopens in new window
Darryl Hooker, Co-Head of EBS BrokerTec Markets, speaks to The Redback Reporter about EBS’s strategy to ensure it leads the way in e-traded offshore Chinese renminbi (CNH).
01
Feb
2016
(pdf)
FOW: Obstacles to Europe’s reporting visionopens in new window
Almost two years since new reporting rules were introduced in Europe, major hurdles remain to achieving their underlying regulatory objectives. Unique trade identifiers (UTIs) have caused particular issues. David White, product marketing executive at triResolve, believes there are two underlying problems: "First, the complexity and diversity of the OTC derivatives market – in terms of execution protocols, instruments and systems – makes it hard to implement and present UTIs consistently. Secondly, there is often confusion over which counterparty should generate the UTI despite clarification and guidance both by Esma and ISDA (the International Swaps and Derivatives Association)."
28
Jan
2016
www.fow.com
ISDA Quarterly: 10 Questions with Michael Spenceropens in new window
In the January 2016 issue of the ISDA Quarterly, Michael Spencer, group chief executive at ICAP, discusses the recent deal to combine ICAP’s voice and hybrid broking and information business with Tullett Prebon, the potential for post-trade services and the impact of regulatory change.
27
Jan
2016
www.isda-iq.org
ISDA Quarterly: 2016 Predictions- Technologyopens in new window
In the January 2016 issue of the ISDA Quarterly, Per Sjöberg, chief executive, TriOptima discusses the technological changes affecting derivatives markets in 2016, alongside Chris Walsh, chief executive, AcadiaSoft.
27
Jan
2016
www.isda-iq.org
CNBC: Seeing a major market correction: ICAP CEO opens in new window
ICAP’s CEO, Michael Spencer discusses the current volatile environment in the global markets, adding that low interest rates and investor complacency is driving markets.
21
Jan
2016
video.cnbc.com
Sky News: Market commentaryopens in new window
ICAP CEO Michael Spencer speaks with Sky News Economic Editor, Ed Conway at the World Economic Forum in Davos about current financial market conditions on a day where £50 billion was wiped off the value of the UK's biggest companies on the FTSE 100. Michael predicts that there is more pain to come with markets trending lower for the next six months.
20
Jan
2016
www2.icap.com
MarketVoice: Jenny Knott featureopens in new window
ICAP's Jenny Knott featured as one of the “Nine People to Watch In 2016”
19
Jan
2016
marketvoicemag.org
IFR: Margin platforms link-up ahead of new rulesopens in new window
Post-trade services provider TriOptima has launched an automated margin processing service that will link up to competing vendor AcadiaSoft’s MarginSphere platform.The link is part of industry efforts to bolster collateral management processes ahead of regulatory requirements that require the margining of uncleared over-the-counter derivatives from September.TriOptima’s triResolve margin service allows clients to reconcile portfolios, calculate margin requirements, investigate disputes, and send collateral for derivatives trades to counterparties on an automated basis.
12
Jan
2016
www.ifre.com
The Times: From war zones to tea parties, business gives something backopens in new window
The Times’ Christmas Appeal has raised more than £600,000 for four good causes — Contact the Elderly, Re~Cycle, the British Hedgehog Preservation Society and War Child . ICAP, the inter-dealer broker, is matching donations made to War Child. The company is one of the most dedicated corporate donors in the UK, giving the profits from a special trading day each year to a host of charities. “The refugee crisis in Syria has sent a shockwave to all those around the world that have witnessed this tragedy, via the media,” Nikki Studt, the broker’s global charity director, said. “It was seen as an absolute must by ICAP senior staff and employees that ICAP should offer support to those affected by this tragic and very real situation. As the charity specialises in delivering support to the most vulnerable and marginalised families affected by and in the aftermath of conflict, then War Child was the absolutely right choice of charity for ICAP to donate to.”
28
Dec
2015
www.thetimes.co.uk
Bloomberg: ICAP’s Tech Sector Search for a New Nameopens in new window
Michael Spencer, chief executive officer at ICAP, discusses the company’s charity day, changes for the organization and search for a new name. He speaks with Guy Johnson on Bloomberg Television’s “The Pulse.” (Source: Bloomberg)
09
Dec
2015
www.bloomberg.com
Daily Mail: Will and Kate get involved raising money at ICAP charity dayopens in new window
Kate and William joined brokers on the trading floor at ICAP's charity day . Under the guidance of the brokers, the Duke and Duchess of Cambridge 'closed' deals to raise money for a selected number of charities. On Charity Day, ICAP donates a day's revenue and commissions to charity.
09
Dec
2015
www.dailymail.co.uk
Evening Standard: William and Kate spend morning closing deals at City broker Icapopens in new window
Prince William and the Duchess of Cambridge spent a morning “closing deals” on the trading floor of a City broker's firm to raise cash for charity. The Duke and Duchess joined Samantha Cameron at Icap’s 23rd annual fundraiser to raise cash for a range of charities.Good causes included William's patron charity SkillForce and Kate's patron charities SportsAid and Place2Be.The royal couple and Mrs Cameron arrived at about 11.30am, toured Icap’s Eldon Street offices and met charity reps before taking to the phones to speak to clients. They reportedly closed deals totalling £360 million and traded between banks.
09
Dec
2015
www.standard.co.uk
Evening Standard: Tory grandee, party animal and wine buff Spencer looks forward to new eraopens in new window
On Wednesday 9 December 2015, Michael Spencer the founder of the Icap broking business will oversee its last Charity Day before a large slice of the firm heads off to join rival Tullett Prebon. It will be the 23rd such day when celebrities help man the trading desks and all the company’s proceeds are donated to charities. The first one, in 1993, raised £200,000. Last year’s collected £8 million, or says Spencer, “equivalent to 3% of our annual profits.” In all, the event has raked in £120 million and benefited 1800 charities. Among those closing deals next week will be the Duke and Duchess of Cambridge, Joanna Lumley, Darcey Bussell, Jeremy Irons and rugby players Will Greenwood and Lewis Moody. Profile interview with Michael Spencer, chief executive of ICAP.
04
Dec
2015
www.standard.co.uk
Financial Times: ICAP and Tullett Prebon unveil ‘historic’ broking deal opens in new window
ICAP and Tullett Prebon on Wednesday put years of rivalry in the fiercely competitive world of interdealer broking behind them by unveiling a deal that will see Tullett buy assets and more than 1,500 of its peer’s brokers. The two London groups formally agreed a deal that will see Tullett purchase ICAP’s global broking business, which includes brokers, electronic trading venues and data business, by issuing 310m new shares. Tullett shareholders will hold 44 per cent of the enlarged company, ICAP 19.9 per cent and ICAP shareholders 36.1 per cent. A deal marks a new dawn for both companies, which have ridden the boom in global derivatives trading for the last 30 years and helped make London the main global hub for trading over-the-counter (OTC) swaps.
11
Nov
2015
www.ft.com
Bloomberg: Tullett to Buy ICAP Business to Create Voice-Broking Giantopens in new window
Tullett Prebon Plc has agreed to buy ICAP Plc’s voice-broking business to create the world’s biggest broker of trades between banks with combined revenue of 1.5 billion pounds ($2.3 billion). The deal -- confirmed in a statement on Wednesday -- will also transform ICAP, focusing the company on the electronic markets and post-trade services that have driven its growth in recent years. ICAP Chief Executive Officer Michael Spencer said that shedding the voice businesses in Europe, Asia Pacific and the Americas will allow it to reduce the firm’s excess capital. Spencer said that would free up cash to invest in technology businesses. “Precisely this capital issue meant that the split was an inevitability at some juncture,” Spencer said in a conference call on Wednesday. “It’s a real liberation of our ability to operate.”
11
Nov
2015
www.bloomberg.com
Investors Chronicle: ICAP bets on tech opens in new window
It is understandable with hindsight why ICAP (IAP) boss Michael Spencer was so keen six months ago to rebuff suggestions that the interdealer broker would sell its electronic trading services. Instead, shareholders have been presented with a transformative deal to sell its core global broking business and brand to rival Tullett Prebon (TLPR). This means ICAP - which has yet to chose a new brand name - will transform itself into a financial technology business closer in nature to the London Stock Exchange Group (LSE).
11
Nov
2015
www.investorschronicle.co.uk
e-Forex: Survival of the Fittest: What's coming next in the evolution of FX ECN's?opens in new window
Darryl Hooker, Head of EBS Market, Jeff Ward, Global Head of EBS Direct, and industry peers talk to e-Forex about the current and future roles of FX ECNs.
29
Sep
2015
www.icap.com
Institutional Investor: The 2015 Tech 50opens in new window
ICAP CEO, Michael Spencer, jumps to No. 13 on this year's Tech 50 ranking.
29
Sep
2015
www.icap.com
Financial Times: Banks team up to resolve OTC swaps margin disputesopens in new window
ICAP joins other financial market peers to resolve OTC swaps margin disputes.
29
Sep
2015
www.ft.com
Euromoney: IDB's bet on RMB boomopens in new window
Hugh Gallagher, Chief Executive of ICAP Asia Pacific, and industry peers discuss the internationalisation of RMB.
29
Sep
2015
www.icap.com
Financial Times comment: Regulators must ensure forex market stabilityopens in new window
Gil Mandelzis, CEO of EBS BrokerTec, writes a comment piece for Financial Times about the importance of central limit order books and appropriate regulation for FX market stability.
29
Sep
2015
(pdf)
Financial News: Rising Stars in Trading and Technology 2015opens in new window
Market infrastructure experts have become essential to the day-to-day running of companies, while asset managers are expected to be on top of sweeping regulatory changes. Financial News’s fifth annual 40 Under 40 Rising Stars in Trading and Technology reflects this new reality. Ben Pott, ICAP's Head of European Affairs features in the list of rising stars in the industry.
14
Sep
2015
lists.efinancialnews.com
John Lothian Newsletter: Innovation Incubationopens in new window
TriOptima’s Mireille Dyrberg Looks at the Latest FinTech Trends in a video interview.
08
Jul
2015
www.johnlothiannews.com
John Lothian Newsletter: Innovation Incubationopens in new window
TriOptima’s Mireille Dyrberg Looks at the Latest FinTech Trends in a video interview.
08
Jul
2015
www.johnlothiannews.com
Financial Times: Banks team up to resolve OTC swaps margin disputesopens in new window
The world’s largest swaps dealers and market infrastructure providers are working on a utility to cut down the number of disputes over the amount of margin used in swaps trading. The new attempt will this time include TriOptima, a post-trade services company owned by ICAP, the interdealer broker. TriOptima runs the industry’s largest portfolio matching and reconciliation service and will link up with a collateral venture run jointly by Euroclear and Depository Trust and Clearing Corporation. It will be run and governed by AcadiaSoft, a US trading technology provider.
07
Jul
2015
www.ft.com
Profit & Loss: Volumes heat up on exchanges in Juneopens in new window
Foreign exchange volumes rose last month according to those platforms to report data with only one indicating a decline in activity. Icap’s EBS says average daily volume (ADV) on EBS was $100.8 billion, a 5% increase on May’s level and a 31% leap from June 2014.
06
Jul
2015
www.profit-loss.com
Financial News : FinTech 40 feat. Steve Gibson opens in new window
The Financial News Fintech 40 aims to recognize individuals who are making a significant contribution to the development of Europe’s fast-growing fintech ecosystem. Over the past three months, Financial News’ team of journalists canvassed the market for opinion and drew up a longlist of more than 115 people. Steve Gibson, managing director of Euclid Opportunities, is listed in the Financial News Fintech 40. Gibson launched Euclid in 2011.
29
Jun
2015
www.efinancialnews.com
Financial News: Pick-and-mix rules divide exchangesopens in new window
Clearing houses have emerged as an important component of the post-crash financial system. But a proposal to fundamentally change the way they interconnect has split the industry. Ben Pott, head of European affairs at interdealer broker Icap, said: “The whole point behind open access is to allow for a competitive market, and to get the benefits of post-trade processes such as netting. It’s about competition and providing the best services to market participants and end-investors.” Icap has proved to be a strong supporter of open access, which is being introduced as part of the review of the Markets in Financial Instruments Directive and Regulation, the technical standards being written by the European Securities and Markets Authority. Indeed, the firm co-signed a letter to the European Commission in March, along with the London Stock Exchange Group and Nasdaq, that urged lawmakers to press on with open access plans.
29
Jun
2015
www.efinancialnews.com
Financial Times: Europe’s short term money markets are in a spinopens in new window
Something unusual is happening in Europe's short term money markets. The European Central Bank, in an attempt to get money flowing around slow-growth economies, now charges banks to deposit money in its coffers. Market participants say the repo market is shrinking. This market is hard to measure because many deals are over-the-counter. The International Capital Markets Association it at €5.5tn last December. "I believe it is shrinking," however, says Godfried de Vidts, director of European affairs at ICAP, as banks have less incentive to participate.
25
Jun
2015
www.ft.com
Profit & Loss: Can FX Technology be Scaled Across Asset Classes?opens in new window
Although some elements of FX technology can effectively be scaled across fixed income and commodities business lines, there are limits to how similar these asset classes will become, according to panelists at Profit & Loss’ Forex Network New York conference. Icap, which owns EBS, recently decided to merge the business with its fixed income platform, BrokerTec. Speaking on the panel, Gil Mandelzis, CEO of EBS BrokerTec, explained that this decision was made because there “are certain aspects of each market that are highly transferable from one asset class to the other”. However, despite claiming that electronification is coming “in a very meaningful way” to parts of the fixed income market and that it is probable that some parts of the US treasury markets will behave more like the current FX market within five years, Mandelzis said that this electronification might not happen at the same pace or in the same exact way as it did in FX.
24
Jun
2015
www.profit-loss.com
Bloomberg: Who wins, Who loses when Fed raises ratesopens in new window
The longest drumroll in the 102-year history of the Federal Reserve precedes its next interest-rate increase. A rate increase means the U.S. economy has improved -- a mission accomplished for the most powerful financial institution in the world. “They’ve been given a job to do and a rate hike is a sign that at long last there’s material progress in the business cycle,” said Lou Crandall, chief economist at Wrightson ICAP in Jersey City, New Jersey.
17
Jun
2015
www.bloomberg.com
MarketsMedia: Assessing MiFID IIopens in new window
Markets in Financial Instruments Directive II will have implications for institutional market participants and market operators who buy or sell securities in Europe. “In order to comply with MiFID/MiFIR, market participants are faced with having to digest a vast array of information and to then assess the impact on their activities depending on whether they are operating as an investment firm or venue,” said Steven French, director of product strategy at Traiana, a provider of post-trade processing and risk-management services.
17
Jun
2015
marketsmedia.com
Reuters: Oil down 2nd day, weekly gain cut on Saudi output worryopens in new window
Oil slid on Friday for a second day, giving back more of the week's gains as investors took profits on worries that higher Saudi Arabia output would feed the global supply glut. "I think oil is stuck in a range until we get clearer info on inventory trends," said ICAP crude oil broker Scott Shelton.
12
Jun
2015
www.reuters.com
The Wall Street Journal: The Fed’s three-meeting ceasefire may soon endopens in new window
The Federal Reserve’s longest period of public harmony in four years could come to an end next week. The last three statements from the policy-setting Federal Open Market Committee–issued on Jan. 28, March 18 and April 29–all were unanimous. The Fed hadn’t gone more than two meetings in a row without a dissenting vote since the first four meetings of 2011, according to a tally by Wrightson ICAP.
09
Jun
2015
blogs.wsj.com
Profit & Loss: TriOptima to expand cross-currency compression serviceopens in new window
TriOptima, a provider of over-the-counter derivative post-trade services, has completed its first USD/KRW compression cycle via its TriReduce service, eliminating $8.8 billion notional principal. The company says 11 institutions took part in the cycle, including international and South Korean banks.
08
Jun
2015
www.profit-loss.com
HedgeWeek - Absorbing currency market liquidity shocks opens in new window
Darryl Hooker, Head of EBS Market, talks to Hedgeweek about the crucial role of the EBS Market central limit order book during significant market events.
04
Jun
2015
www.hedgeweek.com
Reuters: CNH Tracker-Booming offshore yuan trading would get boost from SDR inclusionopens in new window
The volume of Chinese currency traded in the offshore market has risen sharply in the past year, after more than 10 offshore yuan hubs were set up and more players switched to using it for payments and settlements. Daily transactions of the so-called CNH on currency trading platform EBS have increased by over 50 percent in the last six months and by approximately 200 percent in the past year, according to Jessica Roberts, EBS head of CNH. The yuan is now one of EBS' top five traded currencies, whereas it was in the top 15 in 2013. The majority of yuan trading volumes continue to be in Asia, Roberts said.
04
Jun
2015
www.reuters.com
ICMA Keynote speech: Back to the future?opens in new window
Duncan Wales, ICAP Group General Counsel, delivered the keynote speech at the Annual General Meeting of the International Capital Market Association (ICMA).
02
Jun
2015
www.icap.com
Profit & Loss: John Nixon retirement profileopens in new window
John Nixon, Group Executive Director, ICAP Americas (Retired) reflects on strategic acquisitions, non-banks, SEFS, exchanges and the unique role of the FX market.
01
Jun
2015
www.icap.com
Financial News - Fintech 40opens in new window
The Financial News Fintech 40 aims to recognize individuals who are making a significant contribution to the development of Europe’s fast-growing fintech ecosystem. Steve Gibson, MD of Euclid Opportunities, is listed.
01
Jun
2015
www.efinancialnews.com
Waters Technology - ICAP bolsters qa ops to handle data growthopens in new window
Interview with Kevin Taylor, Managing Director, ICAP Information Services.
01
Jun
2015
www.waterstechnology.com
Financial News: Pick-and-mix rules divide exchangesopens in new window
Ben Pott, Head of European Affairs, discusses Open Access and MiFID regulation.
01
Jun
2015
www.efinancialnews.com
The Times: ICAP revenue £1.28bn Profits £95mopens in new window
Miles Costello writes for the Tempus column that "Icap has morphed into something more akin to a technology and information provider. The new-look Icap should have more in common with the likes of Bloomberg and Thomson Reuters than with traditional rivals such as Tullett Prebon and BGC."
20
May
2015
www.thetimes.co.uk
Reuters: EBS on track to test new mechanism for forex fixingsopens in new window
Currency platform EBS is to start testing a computerised system this year that regulators see as one way of preventing manipulation of foreign currency benchmarks, a senior manager at the company said on Tuesday. Financial regulators have been looking at how to improve transparency in the forex markets since a benchmark rigging scandal broke two years ago. Darryl Hooker, head of EBS Market, part of broker ICAP, said the big technical headache that has hampered the creation of such a system could be resolved by an auction process or something similar around the daily currency market fixes.
19
May
2015
www.reuters.com
Reuters: Rules alone won't halt market wrongdoing: BoE's Baileyopens in new window
Changing rules and codes of conduct will not address the cultural problems in banks' trading arms laid bare by seven years of investigations into market-rigging, Andrew Bailey, head of the Bank of England's Prudential Regulation Authority said ahead of the publication next month of Britain's Fair and Effective Markets Review, "There is a danger that they might try to create new rules and we have tried to discourage that," says Ben Pott, head of European affairs at ICAP, whose EBS platform has been a central part of the currency market for decades. "There is a feeling that the work on the codes is not enough and they will need to go further than that. Politically, you probably need to create some structure, something new, where the industry can come together and do more to monitor behavior and act more quickly."
15
May
2015
uk.reuters.com
Financial News: Trading firms squeezed for time after Mifid II delayopens in new window
Europe's trading community fears having even less time to get to grips with new rules underpinning trading in the region, after the European Commission pushed back an important deadline for finalising Mifid II. The European Securities and Markets Authority, the body responsible for producing the technical standards for a revised version of the Markets in Financial Instruments Directive, wrote to the Commission on Monday to say that an early legal review of the standards would force a delay in their submission until September. Esma had been due to submit the standards in July. Ben Pott, head of European affairs at interdealer broker Icap, praised the added rigour around the process but stressed concern "that a late publication of the draft standards will increase the period of uncertainty and thus limit implementation time".
14
May
2015
www.efinancialnews.com
Reuters: CNH Tracker-High-yield dim sum bonds outperform on improved risk appetiteopens in new window
Hong Kong's offshore yuan bond market rallied strongly in the past month, with the high-yield sector taking the lead, thanks to improved risk appetite and easing of tight liquidity that has lasted for months. ICAP plc, a leading markets operator, announces on Thursday it had launched the ICAP CNH Hub, a currency-specific portal which pulls together offshore yuan data from various services within the group to offer a single, consolidated and holistic view of the market.
14
May
2015
The Wall Street Journal: Firms Vie to Set Up New Ways to Trade Treasurysopens in new window
A host of companies are vying to set up new electronic networks for trading U.S. Treasurys, the latest upheaval in a $12.5 trillion market already being reshaped by some large banks’ pullback and the growth of fast-trading firms. ICAP has been talking to banks and high-frequency trading firms about supplementing its BrokerTec business, with a new platform called “BrokerTec Direct” which will provide banks and high-frequency firms with a way to distribute Treasury prices on a disclosed basis, after they have chosen to trade with one another.
07
May
2015
www.wsj.com
Financial Times: ICAP plans new offensive in US Treasuries tradingopens in new window
ICAP is developing a new venue for hedge funds and corporations to buy and sell US government bonds, that propels the brokerage into direct competition with rivals such as Bloomberg. The UK interdealer broker is developing an offshoot of its BrokerTec fixed income trading platform that allow dealers to trade directly with institutional investors and hedge funds, according to two people familiar with the plans.The venue, called BrokerTec Direct, represents a big shift at ICAP, which has historically focused on acting as a middle man in derivative, currency and bond trades between big investment banks and dealers. That focus has allowed its BrokerTec venue to accrue a 60 per cent share of trading in US Treasuries, the world’s largest and most liquid government bond market.
06
May
2015
www.ft.com
Waters Technology: Icap Bows Historical OTC Swap Tick Dataopens in new window
Interdealer broker Icap's market data business, Icap Information Services, has launched a historical tick data product for euro swaps, dubbed i-Swap History, and leveraging data from the broker's i-Swap electronic platform for trading over-the-counter interest rate swaps.
22
Apr
2015
www.waterstechnology.com
Bloomberg: Swiss Franc Antics Threaten Banks’ Grip on Currency Tradingopens in new window
After the Swiss National Bank stunned the world in January by abandoning its price cap on the franc, some banks sought to reduce their losses by trying to renege on transactions. While the foreign-exchange market doesn’t need a complete overhaul, the fallout from the franc cap’s removal demonstrates the need for central-limit order books, said Darryl Hooker, head of EBS Market. Such order books match customers according to price on a first-come, first-served basis. “Exchanges may have rules and/or speed bumps in place, which can result in blackouts,” Hooker said. “We had no disruption of service at all on the 15th of January.”
20
Apr
2015
www.bloomberg.com
FX Week: The importance of primary liquidityopens in new window
FX Week talks to Gil Mandelzis – on his third-year anniversary as chief executive – about EBS's response to a changing market structure since events on January 15
15
Apr
2015
www.fxweek.com
Financial News: Opposites attract to shake up derivatives trading modelopens in new window
Two institutions that have historically operated at opposite ends of the financial spectrum have found common ground as post-crisis reform continues to blur traditional market boundaries. Icap, the world’s largest interdealer broker, and Bats Chi-X Europe, the region’s largest stock exchange, have formed an alliance to help bring more transparent trading methods to a niche corner of the derivatives market.
13
Apr
2015
www.efinancialnews.com
Global RMB: China’s Offshore RMB Endgame, Part III: From shadow banking to cyberspaceopens in new window
“The advent of the CNH is in itself a once in a lifetime event for the FX market, as a new currency being created is an extremely rare occurrence,” says Simon Winn, head of sales for EBS, the electronic FX business arm of ICAP. EBS is one of the largest FX trading platforms in the world, churning some $130bn of spot FX transactions across all currency pairs each day. In mid-January it announced a strategic partnership with the Singapore Exchange, where products such as CNH futures are becoming popular.
01
Apr
2015
www.globalcapital.com
Financial Times Comment: MiFID II needs to uphold spirit of reformopens in new window
Comment piece on MIFID II written by: Michael Spencer, group chief executive of ICAP; Xavier Rolet, chief executive of the London Stock Exchange Group; and Hans-Ole Jochumsen, president of global market services at Nasdaq .
31
Mar
2015
(pdf)
Risk: ICAP leads the fieldopens in new window
ICAP voted No. 1 Overall Interdealer Broker in this month's AsiaRisk Magazine. Aaron Woolner, editor of AsiaRisk said: "ICAP leads the field - Cross-asset capability led to continued success and a strong performance in China saw ICAP retain its position."
01
Mar
2015
www.icap.com
Financial News: ICAP calls for new whistle-blower protectionopens in new window
Interdealer broker Icap has called for firms that report suspicious activity on the part of others in the fixed income, currency and commodity markets to be protected under an institutional-level whistle-blowing mechanism.
24
Feb
2015
www.efinancialnews.com
Financial Times: ICAP says US swaps rule changes more likelyopens in new window
A recent changing of the guard at the main US derivatives regulator should give new impetus to ICAP’s efforts to amend post-financial crisis swaps reforms, Michael Spencer, chief executive of the interdealer broker said Tuesday.ICAP, which operates the biggest US swaps trading venue from London rather than the US, has been a prominent critic of parts of the new rules and has backed a recent plan to rewrite part of the US Dodd-Frank financial reform act.
10
Feb
2015
www.ft.com
Bloomberg: Oil at $40 Means Boon for Some, No Ice Cream for Othersopens in new window
Walter Zimmerman, chief technical strategist for United-ICAP, who projected the 2014 drop in oil price talks to Bloomberg about the falling prices.
01
Jan
2015
www.bloomberg.com
Energy Risk: Energy trading veterans reflect on highs and lows opens in new window
In Energy Risk's 20th year, Paul Newman, Chairman of ICAP Energy, talks to editor Mark Pengelly about the history of the energy market and developing industry trends.
01
Jan
2015
www.risk.net
John Lothian Newsletter: Nick Solinger Talks Market Infrastructure for SEFsopens in new window
With more SEFs launching in the wake of Dodd-Frank rulemaking by the CFTC, Nick Solinger, head of product strategy and chief marketing officer of Traiana, discusses market infrastructure with John Lothian News.
01
Dec
2014
www.johnlothiannews.com
John Lothian Newsletter: SEFCON Snapshot 2014, Part II - Cross border issuesopens in new window
SEFCON Snapshot 2014, Part II - Chris Ferreri discusses the differences between U.S. SEF rules and those of other jurisdictions with John Lothian News.
01
Dec
2014
www.johnlothiannews.com
John Lothian Newsletter: SEFCON Snapshot 2014, Technology and Innovationopens in new window
Nick Solinger, head of product strategy and chief marketing officer of Traiana, discusses the state of innovation in SEF technology and market structure with John Lothian News.
01
Dec
2014
www.johnlothiannews.com
Financial Times: Sefs one year onopens in new window
The US electronic venues for swaps trading have been in place for a year. Laurent Paulhac, chief executive of ICAP Sef, explains to Philip Stafford, editor of FT Trading Room, what their impact has been and how the rules may need to be fine tuned.
17
Nov
2014
video.ft.com
Evening Standard: ICAP Charity Day shows the City’s more-acceptable face.opens in new window
Profile interview with Michael Spencer ahead of ICAP's 22nd annual Charity Day.
01
Nov
2014
www.standard.co.uk
e-Forex: The redback comes of ageopens in new window
Darryl Hooker, Head of EBS Market, and industry peers discuss the development of the RMB market.
01
Oct
2014
www.icap.com
CNBC Squawk Box: French fiscal policy directly called outopens in new window
Walter Zimmerman, Chief Technical Analyst at United-ICAP, discusses how poor fiscal policy contributed to the French downgrade.
01
Oct
2014
video.cnbc.com
Business Insider: The Stock Market Roller Coaster Has Been Released From The Fed's Lift Chainopens in new window
Walter Zimmerman, Chief Technical Analyst at United-ICAP, comments on the latest ups and downs of the stock market rollercoaster.
01
Oct
2014
www.businessinsider.com
Financial Times: Interview with Per Sjöberg, Chief Executive, TriOptimaopens in new window
Profile interview with FT Trading Room. TriOptima was founded in Sweden in 2000 to manage risk in derivatives. It has “compressed”, contracts with notional values amounting to trillions of dollars that have been made redundant because two positions are hedged perfectly (for example, the purchase and sale of $20m five-year swaps with the same maturities). It is owned by ICAP, the interdealer broker.
01
Oct
2014
www.ft.com
Profit & Loss: Traiana's Jill Sigelbaum talks about mitigating risk in FXopens in new window
Profit&Loss Magazine: July Issue - Jill Sigelbaum, Traiana's Global Head of Foreign Exchange and Alliances, talks about the growing credit risks in today’s electronically traded spot FX market
01
Jul
2014
www.icap.com
Thomson Reuters: Reuters Insider opens in new window
ICAP Market Strategist Phil Tyson talks about Italian bonds on Market Pulse
01
Jun
2014
reut.rs
CNBC Squawk Box opens in new window
Don Smith, strategist at ICAP, says Treasurys are likely to see a "sharp correction" when the Federal Reserve begins to "normalize" its monetary policy.
01
May
2014
video.cnbc.com
CNBC Squawkboxopens in new window
ICAP’s Don Smith discusses euro zone inflation and how it's likely to impact the ECB rate decision
01
May
2014
video.cnbc.com
CNBC opens in new window
Don Smith says falling euro zone bond yields are "undermining" the European Central Bank's sense of urgency to act.
01
Apr
2014
video.cnbc.com
CNBC Squawkbox opens in new window
Don Smith, government bond strategist at ICAP, says investors buying the latest round of Greek bonds are buying into an improving economic environment in Europe.
01
Apr
2014
video.cnbc.com
CNBC opens in new window
Philip Tyson, rates strategist at ICAP, says the Greek 5-year bonds auction on Thursday should have "pretty solid" demand but highlights that longer-term, there are still some "big question marks" over Greece.
01
Apr
2014
video.cnbc.com
Thomson Reuters: Reuters Insideropens in new window
As Portugal successfully returns to the bond markets, ICAP’s Head of Strategy Phil Tyson says he expects Portuguese sovereign debt yields to continue outperforming the rest of the periphery.
01
Apr
2014
reut.rs
Thomson Reuters: Reuters Insider opens in new window
ICAP’s Phil Tyson discusses the trends in the German business climate on Europe Day Ahead.
01
Apr
2014
CNBCopens in new window
ICAP's Don Smith says a "downside shock" to the euro zone's growth outlook could "unsettle" peripheral bond yields.
01
Apr
2014
video.cnbc.com
CNBC opens in new window
Bob Parker, senior adviser at Credit Suisse, and Philip Tyson, rates strategist at ICAP, say the ECB is more likely to implement negative rates or LTRO than it is to use quantitative easing.
01
Apr
2014
video.cnbc.com
USA Today / Reuters Newslook opens in new window
Whitehall escalates its bid to scuttle Scotland's separatist ambitions as finance minister George Osborne adds his voice to warnings it will lose the pound if it votes for independence. ICAP’s Phil Tyson comments.
10
Feb
2014
www.usatoday.com
CNBC opens in new window
Phil Tyson, rates strategist at ICAP, says further weak data out of the US could raise alarm bells and see Treasury yields move lower.
09
Feb
2014
reut.rs
CNBC opens in new window
ICAP’s Don Smith identifies the possibility of a weakening growth dynamic in the Eurozone as the biggest risk factor for peripheral bond markets.
08
Feb
2014
video.cnbc.com
ETF.com: ICAP Plans Fixed Income Index Businessopens in new window
Jan de Smedt, Global Head of Indices, and Robert Walton, Director of Index Services at ICAP Information Services talk to ETF.com about ICAP's plans for a push into the fixed income indexing space.
06
Feb
2014
europe.etf.com
CNBC opens in new window
Philip Tyson, rates strategist at ICAP, discusses Italian fundamentals and says that growth could "potentially" stay negative for the next couple of years.
06
Feb
2014
video.cnbc.com
CNBC opens in new window
Phil Tyson, rates strategist at ICAP, says the ECB will be very concerned about the latest euro zone inflation figures which are very close to record lows. He expects some sort of rate move by the central bank.
05
Feb
2014
reut.rs
Thomson Reuters opens in new window
Reuters Insider – UK bond yields are on the rise as market participants question the Bank of England’s commitment to keeping interest rates low, given strong economic data and growth outlook. Phil Tyson from ICAP talks to Reuters.
05
Feb
2014
reut.rs
CNBC opens in new window
ICAP economist Don Smith talks about the possibility of hard landing for China and warns against over-interpreting the monthly economic data.
01
Feb
2014
video.cnbc.com
Reuters opens in new window
With floods engulfing the UK and misery being caused for thousands of homeowners and travel chaos, there are concerns the weather could unbalance Britain's strong economic recovery. ICAP’s Phil Tyson talks to Ciara Sutton.
01
Feb
2014
in.reuters.com
Thomson Reutersopens in new window
Reuters Insider – Longer-dated debt in the euro zone periphery is benefitting from uncertainty in the Ukraine and stronger economic data, says ICAP Head of Interest Rate Products, Phil Tyson.
01
Feb
2014
in.reuters.com
Thomson Reutersopens in new window
Reuters Insider – With Spain selling bonds on strong demand, ICAP’s Phil Tyson discusses whether peripheral yields deserve to be back near their pre-crisis low.
29
Jan
2014
reut.rs
John Lothian Newsletter: SEFCON IV video opens in new window
ICAP’s Chris Ferreri discusses the Dodd-Frank law including Footnote 88 and Made Available to Trade issues.
29
Jan
2014
www.johnlothiannews.com
Thomson Reutersopens in new window
Reuters Insider – Phil Tyson, government bond specialist at ICAP, discusses US Treasurys after highlighting that Friday’s job report in the US “contrasts significantly” with other data.
29
Jan
2014
reut.rs
John Lothian Newsletter: SEFCON IV video part 2 opens in new window
ICAP’s Chris Ferreri discuss SEFs and their market structure at SEFCON IV conference.
29
Jan
2014
www.johnlothiannews.com
John Lothian Newsletter: SEFCON IV video part 3 opens in new window
Traiana’s Nick Solinger highlights pre-trade credit issues at the SEFCON IV conference.
29
Jan
2014
www.johnlothiannews.com
CNBC opens in new window
There’s still "some juice left" in peripheral Eurozone government bond market trades versus the core, according to ICAP’s Don Smith.
29
Jan
2014
video.cnbc.com
Treasury Management International: Money Market Funds in a Changing Worldopens in new window
Money Market Funds in a Changing World: A Portal Perspective. Justin Meadows, Founder and Chief Executive of MyTreasury, discusses the changing environment in which Money Market Funds operate and the impact on MMF
29
Dec
2013
www.treasury-management.com
CNBC opens in new window
In advance of the Fed’s December meeting, ICAP’s Don Smith explains why he thinks the market will be resilient to any tapering announcement.
29
Dec
2013
video.cnbc.com
CNBC SquawkBoxopens in new window
Phil Tyson, strategist at ICAP, says that upward pressure remains on US Treasury yields.
29
Nov
2013
reut.rs
CNBC opens in new window
ICAP’s Don Smith explains the slide in sterling rate expectations after the November Inflation Report and why he thinks the Bank of England’s forward guidance is ineffective.
09
Nov
2013
www.onenewspage.co.uk
Thomson Reutersopens in new window
Reuters Insider – An unexpectedly strong economic performance has boosted UK Finance Minister George Osborne's credibility. But ICAP's Phil Tyson says Osborne's economy is still out of balance.
29
Oct
2013
reut.rs
Thomson Reutersopens in new window
Reuters Insider – Italian bond yields are higher than Spain's for the first time in 18 months. ICAP's Phil Tyson predicts debt/GDP up to 140%, recession into 2015 and some sort of official aid for Rome next year.
29
Sep
2013
reut.rs
Thomson Reutersopens in new window
Reuters Insider – Italy holds a smooth €6bln bond auction. But spreads vs. Germany – and Spain – are headed higher. Plus, how steep will the Carney conundrum push the UK gilt curve? Phil Tyson from ICAP comments.
29
Aug
2013
reut.rs
Thomson Reutersopens in new window
Reuters Insider – Portugal’s political crisis plunges the country’s markets into turmoil. The euro crisis, it appears, is far from over. But in the UK, more strong data raise questions over the BoE’s next move. Phil Tyson from ICAP comments.
29
Jul
2013
reut.rs
Thomson Reutersopens in new window
Reuters Insider – A ratings downgrade, a record rise in non-performing bank loans and the government pays the highest price in four months to borrow short-term cash. It’s not been a good 24 hours for Italy. Phil Tyson from ICAP comments.
29
Jul
2013
reut.rs
Thomson Reutersopens in new window
Reuters Insider – The pound’s down and bonds bounce, as the latest data and BoE minutes cast doubt over the UK recovery. Phil Tyson from ICAP talks to Jamie McGeever.
01
May
2013
insider.thomsonreuters.com
Thomson Reuters opens in new window
Reuters Insider – As Japan battles deflation sand Europe tries to stabilise its economy, attention turns to the US where jobs data may not be as strong as many analysts believe, says ICAP’s Phil Tyson.
01
Apr
2013
insider.thomsonreuters.com
Reuters TV opens in new window
Don Smith, economist at ICAP, explains why markets have been unruffled by the loss of the UK’s AAA debt rating.
09
Feb
2013
www.reuters.com
CFTC Staff to Host Public Roundtable to Discuss the "Futurization of Swaps": Part Iopens in new window
Chris Ferreri of ICAP speaks at a public roundtable held by the Commodity Futures Trading Commission to discuss the "futurization" of the swaps market.
06
Feb
2013
www.youtube.com
Financial Times: Clearing Riskopens in new window
The push to clear more trades means participants' fortunes are tied to the security and reliability of their counterparties. Mireille Dyrberg, COO of TriOptima, explains to FT Trading Room editor Philip Stafford how 'teari
01
Oct
2012
video.ft.com
John Lothian Newsletter: SEFCON IV Preview Snapshot (Nov 18, 2013) opens in new window
ICAP’s Chris Ferreri gives a preview of the SEFCON IV conference including the panels and topics.
29
Nov
2011
www.johnlothiannews.com