ICAP Announces the Launch of SpotMatch

ICAP, part of TP ICAP Group, a leading global markets infrastructure and data solutions provider, announced today that the company has released SpotMatch, a brand new fully automated and advanced Spot FX matching platform.

According to an official announcement, ICAP is planning to meet the growing demand from clients for a cost-effective eMatching solution through the latest launch. SpotMatch will enable clients to access a deep pool of 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 due to the company’s extensive partnerships with leading banks.

TP ICAP Group mentioned that the recent product is an integral part of the Group’s electronification strategy. The world’s largest interdealer broker aims to deliver a market-leading product for clients through the use of HTML 5 technology and FIX API FIX API The Financial Information Exchange (FIX) API is a set of clearly defined rules and methods which are used to execute electronically transfers of any financial data. The protocol is widely adopted by the industry and is used by both retail and institutional traders, but mostly by the more professional-oriented side of the industry. Moreover, the protocol is supported by the FIX Trading Community which is a non-profit, industry-driven standards body. The company is regularly updating the protocol The Financial Information Exchange (FIX) API is a set of clearly defined rules and methods which are used to execute electronically transfers of any financial data. The protocol is widely adopted by the industry and is used by both retail and institutional traders, but mostly by the more professional-oriented side of the industry. Moreover, the protocol is supported by the FIX Trading Community which is a non-profit, industry-driven standards body. The company is regularly updating the protocol Read this Term connectivity.

Commenting on the latest announcement, Andrew Berry, Senior Managing Director, ICAP said: “We have developed SpotMatch to meet client demand. Following many discussions with our clients, it became clear there is a need for a simple, user-friendly interface for eMatching trading across FX Markets. We’re continuing to focus on electronification right across the business, and this is another example of where TP ICAP is taking important strides forward to deliver innovative electronic offerings in key marketplaces.”

Earlier this week, TP ICAP announced that the Group is planning to launch crypto trading services for institutions this year.

SpotMatch

ICAP aims to facilitate clients with the release of the new Spot FX matching platform. Moreover, the interdealer broker highlighted the enhanced security of the new platform. “The secure platform enables traders to submit orders prior to pre-scheduled FX matching events and take advantage of the first-in-first-out methodology. Matched trades then flow through to a client’s benchmark order book using post-trade solutions,” ICAP mentioned in the announcement.

In the first quarter of 2021, TP ICAP reported a dip of nearly 10% in the global broking revenues. Overall, the Group reported revenues of £483 million in Q1 of 2021.

In April 2021, TP ICAP released Parameta Solutions.