ICAP e-Commerce launches US Agency Securities matching engine
ICAP plc (IAP.L), a leading markets operator and provider of post trade risk mitigation and information services, announced that ICAP Global Broking’s e-Commerce, the hybrid execution business of ICAP, has launched an US Agency Securities matching engine powered by ICAP’s premier US Agency Securities desk.
The matching engine brings together buyers and sellers in the US Agency Securities marketplace by using both traditional and new execution methods, creating an unparalleled and liquid user experience for new and existing ICAP customers.
Clive England, US Head of ICAP e-Commerce & Global Matching, said: “ICAP has been at the forefront of providing best in class services in most every asset class and product. Now we have another first with our US Agency Securities matching product. As hybrid technologies continue to grow and become increasingly more important in the US, we’ve made it a priority to offer these new products to our customers and demonstrate how they offer improved functionality and liquidity.”
Jerald Irving, President of ICAP Securities, said: “Agency Securities professionals require and depend on reliable trading solutions with rapid execution, and our e-Commerce group gives our customers that with this new hybrid product. We’re continuing our strategy of investing in new technologies in innovative ways that give our customers more options in this rapidly changing environment. We’re very excited to be launching our US Agency Securities matching engine and look forward to bringing more state-of-the-art services to the marketplace soon.”
Agency Securities are bonds issued by US Government Agencies, such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Farm Credit System (FFCS).
Source: ICAP
