ICAP Energy launches global iron ore electronic platform
Singapore, London, New York, 8 May 2014 – ICAP (IAP.L), the leading markets operator and provider of post trade risk and information services, announces that it successfully launched its global iron ore electronic platform on 5 May, coinciding with Singapore Iron Ore Week 2014. The new platform fits seamlessly into ICAP’s existing services offering clients the advantage of global access to a wide-range of commodities on a single platform.
The first trade occurred between one of ICAP’s traditional clients and a prominent Chinese market participant. George Dranganoudis, Managing Director of Commodities Asia Pacific, ICAP, said “The launch and subsequent trades exemplify ICAP’s goal of providing an electronic solution and bridging our traditional customers with the ever growing Chinese market”.
Alex Newman, head of Dry Bulk Commodities Asia Pacific, said “ICAP is pleased to offer its global clients this efficient and robust platform as a complimentary tool to its existing voice broking iron ore service”
ICAP’s successful launch of this initiative follows the company’s recent SGX Award for Highest Growth Interdealer Broker 2013 and highlights its commitment towards the successful development of the Dry Bulk Commodities market.
Bryony Scragg ICAP Communications UK +44 (0) 20 7050 7124
Guy Taylor ICAP Communications US +1 212 341 9759
Bruce Shu/ Hone Patrick Grayling +852 2164 8300
About ICAP Energy
ICAP Energy, a subsidiary of ICAP plc, is an innovative leader in the energy and shipping industries, providing full-service and over-the-counter broking and advisory capabilities to a broad spectrum of businesses throughout the world.
The group has approximately 350 staff located in London, North America, Singapore, Sydney, Geneva, Bergen, Amsterdam, Madrid, Copenhagen and Sao Paulo. ICAP Energy offers real-time price discovery and execution services in crude oil and oil products, biofuels, agriculture and softs, base and precious metals, iron ore, electricity, natural gas, coal, emissions, freight, weather derivatives and physical products.
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 go to www.icap.com.