ICAP Launches Scrapbook E-Solution, Targeting Corporate Bond Traders

Global markets operator and post trade risk mitigation services provider ICAP, has launched Scrapbook, a comprehensive e-solution for the corporate bond market.

ICAP’s latest initiative will be operated under its BrokerTec MTF (Multilateral Trading Facility), which will serve as a regulated unit of BrokerTec Europe Limited. The session-based Scrapbook is slated to launch in February, made possible with ICAP’s partnership with pricing and reference data provider, Interactive Data.

Scrapbook users will be granted exposure to Interactive Data’s Continuous Fixed Income Evaluated Prices, which coalesces a combination of algorithmic and human analyses in a regularly updated manner.

The realm which ICAP has opted to target is corporate bond trading – Scrapbook will enable corporate bond traders to map out opportunities and oversee their positions.

According to Dean Berry, Head of e-Commerce, ICAP, in a recent statement on the launch, “The corporate bond market has experienced reduced Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term from a combination of increased regulatory controls and challenging market conditions. We believe that Scrapbook meets the changing needs of bond traders, offering an intuitive new solution that combines anonymity with leading technology, pricing and a regulated trade environment. We have received positive feedback from our customers and intend to grow our range of bond products offered on Scrapbook in the near future.”

“We are delighted to partner with ICAP on this innovative solution to provide greater pre-trade price transparency and price discovery for corporate bond traders. Not only does it validate another important front-office use case for continuous evaluated pricing, it represents an important step forward in the changing landscape of the fixed income markets,” added, Andrew Hausman, President Pricing and Reference Data, Interactive Data, in an accompanying statement.