Icap (IAP.L), the world's premier interdealer broker and operator of the leading spot FX trading platform EBS, is introducing a GBP/JPY tradeable currency pair on Monday, 2 July.
The sterling/yen currency pair will further expand ICAP's suite of electronically traded currency pairs on the EBS platform.
ICAP currently offers trading in 26 currencies and precious metals across 34 currency pairs on the EBS platform. Since the beginning of 2007, ICAP has introduced electronic trading in the New Zealand dollar, Australian/New Zealand dollar currency pairs, short dated currency forwards and in platinum and palladium.
Darryl Hooker, Emerging Markets Manager, ICAP Electronic Broking, said "We have seen high customer demand for a tradeable GBP/JPY currency pair, particularly from Europe. ICAP already operates the pre-eminent market for yen trading and this pair will increase visibility in both the yen and sterling currencies in the spot FX market.
"This will provide FX traders with a new trading opportunity for both investment and risk management and will enhance overall liquidity to the benefit of the global FX market as a whole."
The addition of this currency pair is a natural progression building on EBS' recognised strengths for trading the yen against the US dollar, euro and Swiss franc. Putting the GBP/JPY pair on the same screen as the other major currency pairs makes it easier and more efficient for FX traders to manage their positions.