25 August 2016
Find out more

Icap shakes up electronic trading business

13 March 2012  |  4862 views  |  0 Icap logo web screen shot

Interdealer broker Icap has restructured its electronic trading operations to separate the reporting lines for the FX and fixed income businesses in a move that has led to the departure of division chief David Rutter.

Under the restructuring, Gil Mandelzis, head of Icap's post trade business Traiana, has been appointed CEO of EBS, reporting to Icap chief Michael Spencer. Gil will continue to be responsible for Traiana.

The shake up follows a fall in traditional currency pair trading volumes and the arrival of new entrants ready to service the demands of hedge funds and high frequency traders for faster dealing platforms.

Says Spencer: "This structure better reflects changing market dynamics, particularly in the FX space. Gil has enormous experience and depth of knowledge of the market and changing customer needs in this asset class. We are grateful to David for his energetic leadership of IEB during the last eight years and we wish him well in his future endeavours."

The electronic fixed income business will continue to be run on a regional and product basis by Dan Cleaves and John Edwards who will report to John Nixon.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

EBS test trade causes plunge in Swiss franc

EBS test trade causes plunge in Swiss franc

20 January 2012  |  6234 views  |  0 comments
Icap's fintech incubation vehicle invests in Model Two Zero

Icap's fintech incubation vehicle invests in Model Two Zero

18 January 2012  |  7381 views  |  0 comments
Icap names Deutsche Bank's Price COO

Icap names Deutsche Bank's Price COO

11 July 2011  |  6433 views  |  0 comments
Icap to launch MTF for interest rate swaps

Icap to launch MTF for interest rate swaps

31 August 2010  |  8146 views  |  1 comments
Dealerweb to take on Icap and BGC in electronic T-bill trading

Dealerweb to take on Icap and BGC in electronic T-bill trading

28 May 2010  |  8678 views  |  0 comments
Icap shares slump on profit warning; announces acquisition of TriOptima

Icap shares slump on profit warning; announces acquisition of TriOptima

05 February 2010  |  8479 views  |  0 comments
Icap hires Beeston to spearhead post-trade expansion

Icap hires Beeston to spearhead post-trade expansion

16 November 2009  |  11728 views  |  0 comments
Three more banks join CLS/Icap FX joint venture

Three more banks join CLS/Icap FX joint venture

27 July 2009  |  8954 views  |  0 comments
Icap and CLS set up FX post-trade joint venture

Icap and CLS set up FX post-trade joint venture

06 April 2009  |  9384 views  |  0 comments
Icap abandons exchange project as Lyall exits

Icap abandons exchange project as Lyall exits

19 March 2009  |  8963 views  |  0 comments
Icap connects EBS to Traiana Harmony for FX STP

Icap connects EBS to Traiana Harmony for FX STP

05 December 2007  |  6516 views  |  0 comments
Icap seals EBS deal

Icap seals EBS deal

21 April 2006  |  14800 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comVisit www.abe-eba.euVisit equens.com

Top topics

Most viewed Most shared
hands typing furiouslyBlockchain: what to expect for 2017?
8464 views 0 | 55 tweets | 46 linkedin
hands typing furiouslyBig Data's Three Big Trends in 2016
7122 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
6670 views 10 | 22 tweets | 8 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6202 views comments | 17 tweets | 19 linkedin

Featured job

Find your next job