ICAP awarded 2014 FOW International SEF of the Year

London and New York, 10 December 2014 – ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, announces today that it has been named ‘SEF of the Year’ in the category of Banks, Brokers and FCMs, at the 2014 FOW International Awards.

The FOW International Awards are designed to recognise the pioneers of the global derivatives market across a range of categories and disciplines. The awards were announced at a gala dinner at the Grange City Hotel in London on 9 December.

Will Mitting, Publisher, FOW, said: “Swap Execution Facilities began trading in October 2013 marking the biggest regulatory overhaul of how over-the-counter derivatives are executed in the history of the market. Of the myriad Sefs in operation, ICAP won the judges votes in the dealer-to-dealer sector for its innovation and market share. One such innovation that was praised in particular by judges was the establishment of a Sef/Multilateral Trading Facility in London. ICAP Global Derivatives Limited (IGDL) is a regulated by the UK Financial Conduct Authority as well as being a registered Sef with the CFTC and its launch marked the first cross-border Sef. Icap also launched the first Interest Rate Swap order book with the introduction of i-Swap.”

Laurent Paulhac, CEO of ICAP SEF, said: “In a period of significant regulatory change, it is important to provide customers with a reliable and innovative solution which meets the needs of today, while solving the challenges of tomorrow. Over the past year, ICAP has worked hard to mitigate the risk of global liquidity fragmentation with the launch of IGDL going some way to creating a global liquidity pool in G3 rates. We are thrilled to have been awarded ‘SEF of the Year’ and would like to thank our customers and FOW for their continued support.”



Bryony Scragg UK Communications Manager +44 20 7050 7124
Stephanie DiIorio Intermarket Communications +1 212 754 5181

About IGDL

ICAP Global Derivatives Limited (IGDL), a subsidiary of ICAP plc, is ICAP’s UK-based MTF and SEF. The company is authorised and regulated by the UK Financial Conduct Authority (FCA) as well as registered as a SEF with the CFTC. The dual registration includes permission to operate a multi-lateral trading facility (MTF). IGDL allows reconciliation with the CFTC’s SEF rules with financial services regulation of the United Kingdom and European Economic Area. For more information, please go to www.icap.com/sef.

About the ICAP SEF US

ICAP SEF (US) LLC, a subsidiary of ICAP plc, operates markets for interest rate swaps (IRS), credit default swaps (CDS), equity derivatives, commodities and NDFs (non-deliverable forwards). The ICAP SEF offers a venue for trading in cleared and uncleared swaps and operates central limit order books (CLOB) and request for quote (RFQ) systems, as well as offering block trade capabilities, electronic crossing and execution via brokers.
The ICAP SEF is headquartered in Jersey City, New Jersey. For more information, please go to www.icap.com/sef.

About ICAP

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