ICAP Fortifies Bond Offering Via US Agency Securities Matching Engine

ICAP e-Commerce has launched a new matching engine for both buyers and sellers in the US Agency Securities marketplace.

ICAP plc, a markets operator and provider of post-trade risk mitigation and information services, revealed that its ICAP Global Broking’s e-Commerce unit, the hybrid execution arm of ICAP, has initiated an US Agency Securities matching engine, according to an ICAP statement.

ICAP Global Broking’s new engine is powered by the group’s premier US Agency Securities desk. More specifically, the matching engine aggregates buyers and sellers in the US Agency Securities marketplace.

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Agency Securities are best classified as bonds, which are issued by a number of US Government Agencies, including the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Farm Credit System (FFCS).

According to Clive England, US Head of ICAP e-Commerce & Global Matchingת in a recent statement on the launch, “ICAP has been at the forefront of providing best in class services in most every asset class and product. Now we have another first with our US Agency Securities matching product.

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As hybrid technologies continue to grow and become increasingly more important in the US, we’ve made it a priority to offer these new products to our customers and demonstrate how they offer improved functionality and liquidity.”

“Agency Securities professionals require and depend on reliable trading solutions with rapid execution, and our e-Commerce group gives our customers that with this new hybrid product,” added Jerald Irving, President of ICAP Securities, in an accompanying statement.

“We’re continuing our strategy of investing in new technologies in innovative ways that give our customers more options in this rapidly changing environment. We’re very excited to be launching our US Agency Securities matching engine and look forward to bringing more state-of-the-art services to the marketplace soon,” he noted.

Earlier this week, ICAP decided to merge its bonds and foreign exchange (FX) subsidiaries EBS & BrokerTec into a single unified entity. EBS BrokerTec has since unveiled a new website, www.ebsbrokertec.com, which is the next step in the merging of the subsidiaries.

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