EBS BrokerTec acquires Molten Markets – Asset Managers in Focus

In a bid to bolster available services for their electronic Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, ICAP has announced that their EBS BrokerTec division is acquiring Molten Markets. A provider of FX services such as transaction cost analysis and execution management for asset managers and pension funds, Molten Markets will provide EBS with additional services to market to their customers.

According to ICAP, they believe the addition of Molten Markets will provide value to both their Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers which distribute pricing on the electronic platforms and to buy-side customers. In addition, it provides EBS BrokerTec with greater inroads into supporting asset managers, a segment that hasn’t previously been a large part of their customer base.

The deal can be considered the first major announcement involving an external party since ICAP reorganized their electronic platforms by uniting their FX system, EBS, and BrokerTec treasury trading platform into one division- EBS BrokerTec.

As part of the deal, Simon Wilson-Taylor, President and CEO of Molten Markets, takes on the new role of Head of EBS Institutional FX. Wilson-Taylor’s previous experience included stints at UBS, State Street, and UBS. In the firm’s public statement, Wilson-Taylor commented: “We are delighted to be joining EBS BrokerTec and look forward to working together to improve and extend our customer offering.”

Also commenting were Gil Mandelzis, CEO or EBS BrokerTec, and Justyn Trenner, their Global Head of Strategy. Both related the importance of Molten Markets to help them reach a new customer base. Mandelzis stated that operational activity at EBS has helped increase their customer base to include “regional banks, hedge funds, the buy-side and corporates, in addition to our traditional global bank and proprietary trading audience.” He added: “Today, we are delighted to extend the EBS BrokerTec offering to a large institutional customer segment that we were not yet serving: asset managers”.

Trenner said: “This acquisition will allow us to address a clear and unmet need expressed to us by real money managers – to achieve demonstrable best execution from a single platform that also addresses the unique workflow challenges they face.”

Financial terms of the deal have not yet been provided by either party.