ICM, a UK-based FX broker, has confirmed that it will be sponsoring the World Cycling Revival Festival 2018. The festival, which is going to be held in Herne Hill, South London, will take place on the 14 - 16 of June.

The festival, which will celebrate the 200th birthday of the bicycle, is launching this year and is sure to be attended by a cross-section of Guardian readers and Telegraph fanciers who, having successfully conquered East London, are starting to gentrify the south of the city too. Those fortunate enough to attend will be able to participate in, and watch a selection of, sports events and live musical performances.

High-end sports

ICM’s sponsorship follows in the wake of a flurry of announcements linking together the FX industry and sporting events. Just yesterday, Libertex, an FX broker, confirmed it would be continuing its partnership with the Columbian footballer James Rodriguez.

Similarly, last weekend saw Rakuten, owner of Rakuten Securities, and the Spanish football club Barcelona launching a sustainability initiative. This was in the same week that Robert Ophele, the president of the Autorité des Marchés Financiers, criticised Atletico Madrid, a Spanish football team, for allowing themselves to be sponsored by Plus500, an FX broker.

ICM’s sponsorship efforts may be more low-key than the brokers plastering their logos on football shirts, but it is aimed at a more high-end clientele. Indeed, the FX broker’s sponsoring of the cycling festival fits neatly with its support of the England polo team - a sporting outfit that the average retail trader is not going to be following closely.