Icap and Interactive Data Ink Data Deal

Terry Flanagan

Interdealer broker Icap and Interactive Data Corporation, have launched a collaboration by which Interactive Data clients can access a broad spectrum of Icap data via the Consolidated Feed, including Icap’s interest rate, credit, fixed income, money markets, foreign exchange, and energy market data.

This data can support enhanced market analysis, including price verification, price forecasting, correlation analysis and liquidity profiling.

Risk managers, institutional investors and portfolio managers increasingly require access to comprehensive pre-trade price information for improved evaluations, risk management and compliance assessments.

“Sourcing content from the leading broker of interest rate derivatives, fixed income and foreign exchange helps ensure that we can deliver high quality data for those markets to our clients,” said Emmanuel Doe, president, trading solutions group for Interactive Data. “A significant benefit of our collaboration for clients is the ability to enhance pre-trade transparency through real-time price discovery across a range of global asset classes.”

The agreement also provides Interactive Data clients the capability to access Icap data via multiple Interactive Data desktop platforms and data feed offerings, all of which will be covered under a direct license between the client and ICAP.

“ICAP Information Services offers benchmark market data products and services to thousands of customers throughout the world,” said Mark Beeston, CEO of portfolio risk services for ICAP. “The new alliance with Interactive Data allows us to expand our reach even further and offer our products to a whole new set of financial professionals.”

ICAP Information Services (IIS) is a unit of Icap’s Post Trade Risk and Information division. The group provides data services across all key asset classes and offers innovative solutions for real-time, end-of-day and historical products. As a provider of OTC market information, IIS is at the forefront of delivering independent data solutions to financial market participants, the company said.

Separately, ICAP Futures and Options, the financial futures business of Icap, has selected Traiana’s Harmony Network for its client connectivity layer, bringing the total number of futures commission merchants (FCMs) on the Harmony Network for Exchange Traded Derivatives (ETDs) to 13. Traiana, a provider of pre-trade risk and post-trade processing solutions, is a subsidiary of Icap.

Traiana’s Harmony Network enables FCMs to provide real-time visibility of exchange traded derivatives trades to their clients, enhancing client service and increasing transparency. At the same time, Traiana Harmony reduces operational risk by managing the entire reconciliation and allocation process in real-time and improves operational efficiency, providing STP connectivity to executing and clearing counterparties.

Traiana also added the support of a further seven FCMs to its CreditLink service ahead of the November 1 regulatory deadline for pre-trade screening of trades conducted on Swap Execution Facilities (SEFs). These include BNP Paribas, BNY Mellon, Deutsche Bank, RBS, UBS and Wells Fargo as well as other globally recognized clearing firms. These FCMs are in addition to Barclays, BofA Merrill Lynch, Citi, Goldman Sachs and J.P. Morgan, who were all previously announced.

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