Almost half a year after ICAP decided to merge its bonds and foreign Exchange subsidiaries EBS & BrokerTec into a single unified unit, the broker-dealer announced that it will be converging the brands too. EBS BrokerTec has unveiled a new website, www.ebsbrokertec.com, which is the next step in the merging of the subsidiaries.
The move by ICAP brought together the interests of similar parties, as bonds and currency markets are in close alignment.
"We're developing new products which we will announce in due course"
The EBS BrokerTec merging will deliver additional convenience for market participants and will greatly optimize the cost structure of the units. Fixed income and foreign exchange trading are closely correlated and the clients of the services may largely represent the same target group for ICAP.
Technological synergies between the units that form EBS BrokerTec add to operational functions which may ultimately provide a more efficient access for the clients of ICAP. EBS BrokerTec is in the process of combining a multitude of its operations - currently sales, support and on-boarding teams are being synergized with the new business structure.
The CEO of EBS BrokerTec, Gil Mandelzis, commented in the announcement about brand unification, “In combining EBS and BrokerTec we can build a stronger and better organization, for the benefit of our customers in many markets around the world. Leveraging the synergies of the combined business has allowed us to innovate and develop new products which we will announce in due course."
"At the same time, we are committed to the continued investment in our established EBS and BrokerTec platforms, to maintain the robustness of our trading environment and to ensure the provision of stable and efficient markets," he concluded.
