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Icap launches fintech incubation vehicle

09 March 2011  |  7419 views  |  0 20 pound note

Interdealer broker Icap has launched a vehicle to provide seed funding to new companies developing technology for post-trade risk management, data and other financial market applications.

As well as money, Euclid Opportunities provides an "acceleration program" offering tailored support and guidance through a network of advisors, domain experts, mentors and market practitioners.

With regulatory reform driving demand for new approaches, the service will help Icap stay at the cutting edge of post-trade technology, says the firm's portfolio risk services CEO Mark Beeston.

Steve Gibson, MD, Euclid Opportunities, adds: "Euclid will bridge the gap between underfunded technology innovators and the needs of stakeholders in today's financial markets. We believe the creativity, talent and ambition that exists in many start-up enterprises can be nurtured and supported to provide a number of groundbreaking financial technology success stories."

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