Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  ICAP plc       GB0033872168

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Traiana Signs Up Six Banks To Clearing Network

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/19/2012 | 01:16am CEST

Six major banks have signed up to ICAP PLC-owned (>> ICAP plc) Traiana's clearing network, helping it to steal a march on its rivals as the foreign-exchange industry prepares for a long-awaited overhaul of regulations governing derivatives trading.

Citigroup Inc. (>> Citigroup Inc.), Bank of America Merrill Lynch (>> Bank of America Corp), Deutsche Bank AG (DB), JP Morgan Chase & Co. (>> JPMorgan Chase & Co.), Morgan Stanley (MS) and UBS AG (UBS) have signed up to the service, known as Harmony CCP Connect, Traiana said Monday.

Traiana, which provides port-trade services like credit checks and financial messaging, and helps to connect banks with trading exchanges, said Harmony CCP Connect made the clearing process simpler by providing a direct line to the clearer.

"Traiana has the connections in place to the clearing houses, clients and counterparties . . . [and] ties into our existing FX systems and processes," Andrew Coyne, head of FX prime and e-commerce product at Citigroup, said in a release.

Clearing houses LCH.Clearnet Group Ltd., IntercontinentalExchange Inc. (>> IntercontinentalExchange, Inc.), CME group Inc. (>> CME Group Inc.) and Singapore Exchange Ltd. (S68.SG) are among those to have said they will use Harmony CCP Connect.

Announced last year, Harmony CCP Connect offers trade routing, affirmation, matching, allocation and reporting for centrally cleared foreign-exchange options and non-deliverable forwards, between institutions and clearing houses, as required by the U.S. Dodd Frank Act and the European Union's European Markets Infrastructure Regulation.

Central counterparties have been written into the regulation to reduce the counterparty, systemic and credit risks associated with over-the-counter derivatives trading, in line with long-standing pledges by the Group of 20 industrialized and developing economies to bring greater stability to financial markets by the end of 2012.

Traiana's service isn't unique to the market--other providers such as Tullett Prebon PLC (>> Tullett Prebon Plc) and GFI Group Inc. (>> GFI Group Inc.) are expected to launch similar services in the coming months.

-By Alexandra Fletcher, Dow Jones Newswires; 44 20 7842 9462; [email protected] @djfxtrader

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ICAP PLC
2016 ICAP : NEX Group plc ("NEX" or "Newco") Confirmation of number of New Tullett Pr..
2016 ICAP : Energy appoints Kieran Walsh as Director of European Agricultural and Sof..
2016 ICAP : Scheme of arrangement
2016 ICAP : Treasury Stock
2016 ICAP : Holds 24th Annual Global Charity Day
2016 ICAP : "ICAP") / NEX Group plc ("NEX" or "Newco") Publication of Prospectus, Sat..
2016 ICAP : Releases Timeline For NEX Transition Ahead Of Tullett Prebon Deal (ALLISS..
2016 ICAP : Treasury Stock
2016 ICAP : FX volumes on ICAP's EBS platform jumped after Trump win
2016 ICAP : Electronic Markets Volumes
More news
Sector news : Investment Banking & Brokerage Services - NEC
06/23 Goldman Sachs global head of equity markets to retire
06/23 WARREN BUFFETT : 'Bailout' Buffett burnishes 'lender of last resort' image
06/21DJGOLDMAN SACHS : Poaches Rival's Bankers -- WSJ
06/20 AB InBev kicks off sale of German beers Hasseroeder and Diebels - sources
06/20 U.S. banks, corporations establish principles for cyber risk ratings firms
More sector news : Investment Banking & Brokerage Services - NEC
News from SeekingAlpha
2016 WALL STREET BREAKFAST : Pfizer To Buy AstraZeneca Antibiotics Ops
2016 Major banks, ICAP join up to create digital currency
2015 Exciting Future For BGC Partners
2015 WALL STREET BREAKFAST : Here Comes The GDP Revision
2015 New York opens inquiry into 'spoofing'
Advertisement
Financials ( GBP)
More Financials
Technical analysis trends ICAP PLC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus 
Mean consensus
Number of Analysts
Average target price -
Spread / Average Target -100%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Stuart John Bridges Group Finance Director & Director
Michael Alan Spencer Director
John Phimister Sievwright Senior Independent Non-Executive Director
Robert Charles Standing Independent Non-Executive Director
Ivan Ritossa Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ICAP PLC0
GOLDMAN SACHS GROUP-8.01%85 493
MORGAN STANLEY4.66%80 817
CHARLES SCHWAB CORP6.03%55 651
CITIC SECURITIES CO LT..7.47%29 059
NOMURA HOLDINGS INC-1.90%23 274
More Results