ICAP Initiates Inaugural Matching Session in South African ZAR Bonds

ICAP plc (IAP.L), a markets operator and post-trade risk mitigation provider, has announced that ICAP Global Broking launched its inaugural matching session using the South African rand (ZAR) government bonds, according to an ICAP statement.

The matching was executed via ICAP Global Broking’s e-Commerce portal, under the premise of a mounting demand for ZAR-denominated government bonds - ICAP’s voice brokers are also conducting multiple sessions per day in both London and Johannesburg.

ICAP’s newest matching sessions follow on the heels of its corporate Eurobonds expansion back in June, as its Global Broking business expands matching capabilities via its e-Commerce portal.

According to Clive England, Global Head of Matching, ICAP Global Broking, in a recent statement on the launch, “We are encouraged by the success of the first series of ZAR government bonds matching sessions, which have received strong market interest. Having offered screens in this market for 10 years, pooling 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 and streamlining the trading process through this new product was the next logical step for the business.”

“Providing enhanced services and functionality through the e-Commerce portal , Global Broking customers can view ZAR government bonds-related news feeds, intraday pricing and participate in matching sessions in one consolidated view, benefiting from the expertise, market knowledge and assurance that our voice brokers are behind the trade,” noted Dean Berry, Global Head of eCommerce, ICAP, in an accompany statement.

“Global Broking’s e-Commerce portal has successfully provided an electronic offering to customers which enables trades to be concluded with the assistance of our voice brokers. As we grow our global footprint in hybrid Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term services, we’re pleased to announce the launch of the ZAR government bonds matching session, and look forward to rolling out further matching sessions across all asset classes over the next 12 months,” added David Casterton, CEO Global Broking, ICAP.

Just last week, ICAP made headlines after it fortified its investment in AcadiaSoft, Inc, a provider of electronic margining for over-the-counter (OTC) derivatives. The latest investment from ICAP was conducted in parallel to DTCC, Euroclear, and four additional banks, which brought the total to over thirteen individual investing institutions.