19 April 2018

Icap to combine EBS and BrokerTec businesses

05 December 2014  |  2868 views  |  0 Source: Icap

ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, today announces that it will combine its electronic businesses EBS and BrokerTec.

EBS and BrokerTec are the world’s leading electronic trading platforms in FX and fixed income respectively. These platforms offer efficient and effective trading solutions to more than 3,300 customers in over 50 countries across a range of instruments including spot FX, US Treasuries, European government bonds and EU and US repo.

The combined business, which will be known as EBS-BrokerTec, will allow ICAP to leverage BrokerTec’s market leading platform, client relationships and strong team, as well as EBS’s technology and innovation pipeline, to deliver unique products and services to the industry and expand the addressable market of both platforms.

Michael Spencer, ICAP Group Chief Executive, will be Chairman of EBS-BrokerTec. Gil Mandelzis, current CEO of EBS, will become CEO of the new EBS-BrokerTec business. Gil founded Traiana, a provider of post-trade and risk management services acquired by ICAP in 2007, and has led EBS since March 2012. Gil led EBS’s transformation from a single to a multi-product company. Seth Johnson will step down as the CEO of BrokerTec but remains on ICAP's Global Executive Management Group. Richard Kerschner, Head of Corporate Development at EBS, has been appointed as the interim CEO of BrokerTec.

Michael Spencer, Group Chief Executive Officer of ICAP, said: “Our EBS and BrokerTec businesses are both world-leading electronic platforms that provide trading solutions across FX and fixed income products. Bringing EBS and BrokerTec together will allow us to deliver new products and reach new client segments. We have demonstrated that we are able to deliver successful new trading solutions with the launch of EBS Direct last year, which has experienced exceptional volume growth. We want to continue to expand our addressable market with the launch of innovative products into other asset classes. I look forward to working closely with Gil and the team in this exciting phase of growth.”

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit https://aciworldwide.webex.comhttps://www.capgemini.com

Top topics

Most viewed Most shared
hands typing furiouslyArtificial Intelligence for fraud detectio...
12255 views 0 | 10 tweets | 6 linkedin
Speculative interest in cryptocurrencies may have peaked - BarclaysSpeculative interest in cryptocurrencies m...
10624 views comments | 16 tweets | 11 linkedin
Competing in an increasingly competitive spaceCompeting in an increasingly competitive s...
9924 views comments | 1 tweets | 2 linkedin
Revolut launches spare change savings toolRevolut launches spare change savings tool
8903 views comments | 14 tweets | 19 linkedin

Featured job

to $120K base, 200K ote, benefits
New York City, NY - USA

Find your next job