FSB Foreign Exchange Benchmarks – Consultation Response

The Company today issues its response to the FSB consultation on foreign exchange benchmarks. ICAP’s EBS isa leading platform in spot FX and one of two contributors of data for calculating thedaily FX fix. EBS provides to WM Company, under license, a market data feed thatincludes spot FX bid and offer prices via its EBS Ticker product.

We broadly endorse the recommendations set out in the consultative document. Wehave focused our responses on those areas that are of most relevance to us.Nevertheless, we fully support the objectives of the FSB group to further strengthenoperational controls and limiting information sharing amongst contributorinstitutions to the fix as recommended in the document (Recommendations 8 - 13).

To view the full response, click here.

Serra Balls Group Head of Communications +44 (0) 20 7050 7103
Guy Taylor Communications US +1 212 341 9759

About EBS
ICAP's award-winning EBS business is at the heart of electronic spot FX trading and remains the core source of genuine, executable spot FX liquidity and independent benchmark pricing for professional trading counterparties in all market conditions.

EBS's platforms deliver reliable, efficient and effective access to spot FX, precious metals and NDF traders globally, in both established and emerging markets, offering optimal price discovery and execution, and support a wide range of FX trading strategies, as well as API and manual trading. For more information, go to www.ebs.com.

About ICAP

ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.