On 01 May 2007 in ET-Interdealer Systems, Electronic Trading 
Inter-dealer broker ICAP’s newly introduced electronic platform for securities lending, i-Sec – based on its BrokerTec platform – is targeted to bring the same efficiencies to equity lending as have been introduced on the fixed income side for repo trading. Initially, four banks are participating in the platform, which in its first phase enables screen-based access for lending and borrowing of equities from France, Germany, Italy, Spain, the UK and Japan. ICAP plans to extend the platform to cover other markets in the future, led by trading demand. Its head of electronic securities lending Roy Zimmerhansl says the system’s scalability will accommodate expansion. “Adding new markets is simple. It’s just picking up a new price feed.”
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On 01 May 2007 in ET-Interdealer Systems, Electronic Trading
Cantor Fitzgerald’s eSpeed subsidiary has projected lower operating income for the remainder of 2007 due to the expiration of one of the key patents covering its trading technology. The news – released with the company’s Q1 results – follows Cantor’s rejection in April of an offer by rival inter-dealer broker Tullett Prebon to buy its interest in eSpeed.
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On 01 Sep 2006 in ET-Interdealer Systems, Electronic Trading
ICAP is hoping the launch of its new electronic trading platform combining decision support information with trading capabilities on a single screen will give the interdealer broker the lead in the credit derivatives e-trading space. Released this month, ICAPCredit covers credit default swaps (CDS), bonds and repurchase agreements (repos).
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On 01 Aug 2006 in ET-Interdealer Systems, Electronic Trading
Creditex Inc. and CreditTrade Inc. have agreed to merge, creating a combined entity expected to handle more than $2 trillion in notional credit derivatives in 2006. The new company – Creditex Group – will offer interdealer broking using voice, electronic and hybrid trading capabilities, with an aim to provide liquidity across all credit derivative sectors and products.
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On 01 Feb 2006 in ET-Interdealer Systems, Electronic Trading
In what could be a big shake up for the foreign exchange dealing market, the world’s largest interdealer broker, ICAP, has confirmed reports that it is in talks to buy electronic interbank foreign exchange dealing and commodities platform EBS Group. Press reports have put the deal’s value at around $700 million. Rumours of the move by ICAP have been circulating for some time.
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On 01 Sep 2004 in ET-Interdealer Systems, Electronic Trading
Trading Technologies International’s litigation against Cantor Fitzgerald’s eSpeed surprised the transaction technology community. But the suit – alleging infringement by eSpeed of TT’s newly granted patents – may point to a wider, ongoing series of disputes between Cantor and London-based interdealer broker ICAP, which teamed up earlier this year with TT to offer a head-to-head competitor to eSpeed’s Treasury and Treasury futures transaction systems.
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On 01 Apr 2004 in ET-Interdealer Systems, Electronic Trading
The strategic alliance between ICAP PLC and MarketAxess, announced recently, marks an aggressive move by both companies into the core target markets of their closest rivals, Cantor Fitzgerald/eSpeed and TradeWeb, respectively. For ICAP, further corporate maneouvrings may be on the cards, as rumours about a possible acquisition of the Electronic Broking Services (EBS) foreign exchange trading system resurface.
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On 01 Feb 2004 in ET-Interdealer Systems, ET-News in Brief, Electronic Trading
U.K.-based interdealer broker ICAP will begin offering ‘futures-style’ execution of the U.S. Treasury bonds it currently handles through its Brokertec platform in the second quarter. Through a hook-up with futures order-routing system provider Trading Technologies, ICAP plans to apply the same rules and protocols used for futures trading to its cash bond broking procedures. According to Hal Hinkle, CEO of the ICAP Electronic Broking division, “By introducing the same trading rules for cash as already exist in futures, traders who choose to use the alternative execution method will enjoy greater reliability and efficiency when hedging between cash and futures.”
On 01 Jan 2004 in ET-Interdealer Systems, Electronic Trading
Cantor Fitzgerald/eSpeed’s attempts to wring money from enforcement of the patents it holds for various electronic trading systems took a knock this month, when a Delaware court threw out eSpeed’s request for a preliminary injunction against rival ICAP/BrokerTec that would have forced BrokerTec to suspend use of its own electronic trading platform.
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