IPC, a leading provider of trading communications solutions to the world's top financial services firms, today announced that ICAP, Plc., a leading markets operator and provider of post trade risk mitigation and information services, has selected several of IPC's Financial Markets Network services for its global connectivity needs, including Trader Voice, the Connexus Financial Extranet and the Direct Connect data service.
Leveraging IPC's services, ICAP will have access to rapid connectivity and trading parties anywhere in the world with approximately 5,000 financial institutions instantly reachable. In addition, the company will enjoy comprehensive Business Continuity Planning/Disaster Recovery capabilities, enabling enterprise-wide survivability, mobility and flexibility.
IPC will become ICAP's preferred global supplier of Trader Voice Connectivity, further building on a strategic partnership which also encompasses Trading Systems and Data Services. ICAP and IPC will work together to manage the seamless migration of all of ICAP's Trader Voice circuit inventory on to IPC's fully resilient Trader Voice Connectivity Platform.
"ICAP chose to partner with IPC because it is an industry leader providing reach, scale and geographic coverage, with the levels of network resiliency and diversity we require," said Alan Pittard, ICAP Vendor Management. "By using IPC's Financial Markets Network services, we gain professionally managed connectivity that enables us to provide our international clients with highly sophisticated access to financial markets across six continents."
"IPC is committed to providing industry leading, value-added network solutions for traders in a reliable and secure environment," said Barry Purkis, senior vice president, IPC. "By strengthening our strategic partnership with ICAP, not only can we enable them to connect globally with fast and efficient access, but we have created a solid foundation that underpins all future service offerings and developments encompassing on-demand cloud based solutions, electronic trading and applications."
The IPC Financial Markets Network service portfolio includes the Connexus Financial Extranet and Direct Connect data services, as well as Trader and Enhanced Voice connectivity services. IPC's Financial Markets Network interconnects global financial centers and allows access to approximately 5,000 market participant locations in over 700 cities in nearly 60 countries.