ICAP Integrates AUD Into Its i-Swap Platform, Targeting Asian Clientele

ICAP, a leading interdealer brokerage and provider of several financial and information services, has announced the launch of the Australian Dollar (AUD) on its i-Swap platform in Australia, according to a recent ICAP statement.

ICAP specializes in post trade risk services across numerous asset classes including Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, emerging markets, equities, and commodities. The i-Swap platform is ICAP’s flagship Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term dealing with interest rate derivatives via direct trade or broker execution. The comprehensive service is open to qualified banking institutions, pending the recognition of clearing standards.

AUD Joins USD, GBP, and Euro On i-Swap Platform

The announcement heralds the offering of the AUD on the i-Swap platform, joining an already robust group that includes the USD, GBP, and Euro. The inclusion of the AUD by ICAP is significant in that it’s the first such offering in the Southern hemisphere, designed as part of a wider initiative to foster greater client exposure, requisite upon dynamic regulatory forces in Asia.

According to Don McClumpha, CEO of i-Swap in a statement on the launch, “I’m delighted that we have launched i-Swap in Australian Dollar. It is the world’s fifth largest currency and supports our thriving broking business in the Australian market. i-Swap will continue to facilitate the transition from a predominately voice-brokered environment to a cost-efficient and transparent electronic trading venue for customers in this market, as it has done in USD and Euro.”

The i-Swap platform has experienced widespread success, specifically across the Euro leg of its operations, which was initiated back in 2010. Furthermore, the USD aspect of the platform is fully transparent and functions under the mantle and compliance of the Dodd-Frank Act.