LONDON, April 15 /CNW/ - ICAP, the world's leading interdealer broker, is
introducing e-trading in FX forwards to the global financial markets, with the
launch of i-Forwards.
i-Forwards provides e-trading for a range of short-dated and longer-dated
currency forwards, enhancing liquidity and price depth, together with
certainty of trade execution and global access to counterparties through a
user-friendly trading screen.
It is set to become a global electronic trading venue and source of
liquidity for short dated FX forwards, building on the company's global
reputation for e-trading spot FX.
The system also uses market data from the award-winning ICAP-owned EBS
platform, the source of the spot FX market, and is therefore ideal data for
Already live in Europe, i-Forwards has attracted a large number of
counterparties. Trading volume has increased and the feedback from banks using
the system has been very positive.
The platform is now being extended to the other major financial markets,
including Asia and the Americas, to build a global e-book in forward FX.
Don McClumpha, Product Manager, ICAP Electronic Broking, Europe, said:
"Forwards traders universally regard price and liquidity as being of paramount
importance and the opportunity to electronically execute with straight through
processing is compelling.
"Trading forwards through ICAP provides access to an orderly market and a
global book of counterparties and liquidity.
"We worked closely with the EBS management team to build on their
expertise in running a global FX currency book, which is reflected in the
design of our offering for e-forwards trading. We are fully confident this
will become the electronic venue of choice for professional forward FX
Norbert Strozynski, LBBW Stuttgart, Germany, said: "From our experience,
i-Forwards is giving the best combination of voice and electronic broking with
an up-to-date technology. It is bringing greater efficiency, especially to our
liquidity management. That is what we are looking for and ICAP can deliver
i-Forwards offers a range of trading features designed to give
professional traders total control. These include real and indicative pricing
to five years, tradeable prices all the way down the curve, minimum entry
amount and the ability to drip-feed orders.
The system also includes Request for Quote functionality and is CLS
compliant, enabling organisations to link i-Forwards to their settlement
systems easily and efficiently.
ICAP is the world's premier voice and electronic interdealer broker,
delivering specialist intermediary broking services to trading professionals
in the wholesale financial markets.
ICAP is active in both established and emerging markets. Our reach and
organisation are global, while providing a local response to customer needs.
Our electronic networks deliver global connectivity to customers seeking
unparalleled liquidity and flow in an orderly marketplace. From pre- to
post-trade, ICAP sets new standards for both voice and electronic broking.
With daily average transaction volumes in excess of USD 1 trillion - 50%
of which is electronic - ICAP provides services for professional market
participants in interest rates, credit, foreign exchange and equities. The
group is also active in post-trade services and emerging markets.
For further information:
For further information: Chatsworth Communications for ICAP Bethan
Walker, + 44 (0)20 7681 4070 firstname.lastname@example.org