Icap launches FIX feed on Thomson reuters
ICAP (IAP.L), the world's premier interdealer broker, announced on Monday that it has launched ICAP FIX. ICAP FIX is a comprehensive data service providing accurate and verifiable marks across an extensive range of ICAP market data. ICAP FIX can be used as reference and validation data for product and credit control, risk management and mark-to-market of positions. ICAP FIX is derived from ICAP's global voice and electronic broking operations covering more than 50 countries from 26 locations in the three key trading zones.
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ICAP FIX coverage provides marks across four key asset classes and 20 currencies fixed globally: interest rate derivatives, inflation swaps, money markets and forward foreign exchange. ICAP FIX offers around 2000 instruments fixed at least once every day for greater accuracy, with key EUR, GBP and USD interest rate swap data fixed on an hourly basis.
"ICAP data is often a key source of information in pre- and post-trades services. ICAP FIX was developed to allow easy retrieval and verification of key data and to offer market participants unparalleled access to key independent and verifiable pricing data for over the counter instruments. We added a level of flexibility for some of the data sets in the major currencies to cater for a range of institutions having processes running at different times. This release is the first phase of what will be a growing service with additional currencies, terms and asset classes to be covered," said Antoine Kohler, Managing Director, ICAP Information Services.
ICAP has been a significant driving force behind reference data for key OTC markets. In 1998 ICAP in collaboration with Reuters and ISDA was a founding partner of the now globally used ISDAFIX service. In 2008 and 2009, ISDA further recognized key ICAP data sets as price reference in its ISDA documentation. ICAP FIX is an extension of ICAP's efforts to facilitate the use of its data and provide clear and verifiable reference pricing to market participants.
ICAP FIX is available from ICAP and published initially on Thomson Reuters.