BrokerTec Brings World Class Trading Platform to U.S. Fixed Income Market
ICAP
18.04.2012 15:15
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NEW YORK and LONDON, 2012-04-18 15:15 CEST (GLOBE NEWSWIRE) --
ICAP, the world's leading interdealer broker, announced that its electronic
fixed income business BrokerTec has successfully launched with its customers a
new trading system for its U.S. based products using a modified version of the
NASDAQ OMX Genium INET system. The new system provides very low latency and
high throughput, as well as built in capabilities for manual traders.
The upgraded BrokerTec trading platform retains all the functionality
previously available on the system, and is built using technology which enables
BrokerTec to increase order volume tenfold and decrease order input latency by
as much as 50 times in some cases. The platform's average latency is now less
than 200 microseconds, with previous average latency approximately 10
milliseconds.
BrokerTec will complete its global upgrade by the end of April.
Dan Cleaves, Head of BrokerTec U.S., said: 'We're very pleased to have
successfully launched the new BrokerTec platform in the U.S. All BrokerTec
customers, including both manual and API traders, will now benefit from
substantially increased performance and greatly enhanced user experience. I'd
like to sincerely thank all our customers, partners, ICAP staff, and our
BrokerTec team led by BrokerTec CIO Arthur D'Arcy, for their hard work and
patience in making this project a success.'
Ravit Mandell, Head of J.P. Morgan Quantitative Market Making, said: 'It has
been a pleasure working with BrokerTec on the launch of the new Genium INET
system - they kept us well informed, met their dates, and the new low latency
platform has a balance between the needs of the manual trader and those
utilizing automated trading tools.'
Steve Yu, Director of Rates and E Trading Technology at Bank of America Merrill
Lynch, said: 'The markets we trade in require the most sophisticated platforms
available. We're very happy with BrokerTec's new system, and the switchover
happened on time and without a hitch. Given the emphasis on speed and
reliability, we feel confident the BrokerTec system will continue to meet our
short and long term trading needs.'
Ann Neidenbach, Senior Vice President of Global Software Development at NASDAQ
OMX, said: 'ICAP's BrokerTec is a premier global platform in the fixed-income
markets, and we are pleased that they recognize the multi-asset capability of
Genium INET as well as benefits in latency, scalability and performance
improvements.'
About NASDAQ OMX
The inventor and transformer of the electronic exchange, The NASDAQ OMX Group,
Inc., fuels economies with revolutionary technologies for the entire lifecycle
of a trade - from risk management to trade to surveillance to clearing. In the
US and Europe, we own and operate 24 markets, 3 clearinghouses and 6 central
securities depositories supporting equities, options, fixed income,
derivatives, commodities, futures and structured products. Able to process more
than 1 million messages per second at sub-80 microsecond speeds with 99.999%
uptime, our technology drives more than 70 exchanges in 50 developed and
emerging countries into the future, powering 1 in 10 of the world's securities
transactions. Our award-winning data products and worldwide indexes are the
benchmarks in the financial industry. Home to 3,400 listed companies worth $5.1
trillion in market cap whose innovations shape our world, we give the ideas of
tomorrow access to capital today. Welcome to where the world takes a big leap
forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit
www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and
Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P
500).
About ICAP
ICAP is the world's leading interdealer broker and provider of post trade risk
and information services. The Group matches buyers and sellers in the wholesale
markets in interest rates, credit, commodities, FX, emerging markets and equity
derivatives through voice and electronic networks. Through our post trade risk
and information services we help our customers manage and mitigate risks in
their portfolios. For more information go to www.icap.com.
ICAP's BrokerTec platform is the leading electronic trading platform for the
fixed income markets and provides innovative technology solutions across a wide
range of products to more than 500 customers in over 50 countries. It includes
trading solutions for many U.S. and European fixed income products, including
U.S. Treasuries, European Government Bonds and European Repo, and facilitates
both API (black box) and manual trading for institutions, banks and non-bank
professional trading organizations.
CONTACT: Brigitte Trafford
ICAP
+44 (0)20 7050 7103
Guy Taylor
ICAP
+001 212 341 9759
Robert Madden
NASDAQ OMX
+001 646 441 5045
News Source: NASDAQ OMX
18.04.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: ICAP
GroÃbritannien
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901985740
WKN:
End of Announcement DGAP News-Service
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ICAP
18.04.2012 15:15
---------------------------------------------------------------------------
NEW YORK and LONDON, 2012-04-18 15:15 CEST (GLOBE NEWSWIRE) --
ICAP, the world's leading interdealer broker, announced that its electronic
fixed income business BrokerTec has successfully launched with its customers a
new trading system for its U.S. based products using a modified version of the
NASDAQ OMX Genium INET system. The new system provides very low latency and
high throughput, as well as built in capabilities for manual traders.
The upgraded BrokerTec trading platform retains all the functionality
previously available on the system, and is built using technology which enables
BrokerTec to increase order volume tenfold and decrease order input latency by
as much as 50 times in some cases. The platform's average latency is now less
than 200 microseconds, with previous average latency approximately 10
milliseconds.
BrokerTec will complete its global upgrade by the end of April.
Dan Cleaves, Head of BrokerTec U.S., said: 'We're very pleased to have
successfully launched the new BrokerTec platform in the U.S. All BrokerTec
customers, including both manual and API traders, will now benefit from
substantially increased performance and greatly enhanced user experience. I'd
like to sincerely thank all our customers, partners, ICAP staff, and our
BrokerTec team led by BrokerTec CIO Arthur D'Arcy, for their hard work and
patience in making this project a success.'
Ravit Mandell, Head of J.P. Morgan Quantitative Market Making, said: 'It has
been a pleasure working with BrokerTec on the launch of the new Genium INET
system - they kept us well informed, met their dates, and the new low latency
platform has a balance between the needs of the manual trader and those
utilizing automated trading tools.'
Steve Yu, Director of Rates and E Trading Technology at Bank of America Merrill
Lynch, said: 'The markets we trade in require the most sophisticated platforms
available. We're very happy with BrokerTec's new system, and the switchover
happened on time and without a hitch. Given the emphasis on speed and
reliability, we feel confident the BrokerTec system will continue to meet our
short and long term trading needs.'
Ann Neidenbach, Senior Vice President of Global Software Development at NASDAQ
OMX, said: 'ICAP's BrokerTec is a premier global platform in the fixed-income
markets, and we are pleased that they recognize the multi-asset capability of
Genium INET as well as benefits in latency, scalability and performance
improvements.'
About NASDAQ OMX
The inventor and transformer of the electronic exchange, The NASDAQ OMX Group,
Inc., fuels economies with revolutionary technologies for the entire lifecycle
of a trade - from risk management to trade to surveillance to clearing. In the
US and Europe, we own and operate 24 markets, 3 clearinghouses and 6 central
securities depositories supporting equities, options, fixed income,
derivatives, commodities, futures and structured products. Able to process more
than 1 million messages per second at sub-80 microsecond speeds with 99.999%
uptime, our technology drives more than 70 exchanges in 50 developed and
emerging countries into the future, powering 1 in 10 of the world's securities
transactions. Our award-winning data products and worldwide indexes are the
benchmarks in the financial industry. Home to 3,400 listed companies worth $5.1
trillion in market cap whose innovations shape our world, we give the ideas of
tomorrow access to capital today. Welcome to where the world takes a big leap
forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit
www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and
Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P
500).
About ICAP
ICAP is the world's leading interdealer broker and provider of post trade risk
and information services. The Group matches buyers and sellers in the wholesale
markets in interest rates, credit, commodities, FX, emerging markets and equity
derivatives through voice and electronic networks. Through our post trade risk
and information services we help our customers manage and mitigate risks in
their portfolios. For more information go to www.icap.com.
ICAP's BrokerTec platform is the leading electronic trading platform for the
fixed income markets and provides innovative technology solutions across a wide
range of products to more than 500 customers in over 50 countries. It includes
trading solutions for many U.S. and European fixed income products, including
U.S. Treasuries, European Government Bonds and European Repo, and facilitates
both API (black box) and manual trading for institutions, banks and non-bank
professional trading organizations.
CONTACT: Brigitte Trafford
ICAP
+44 (0)20 7050 7103
Guy Taylor
ICAP
+001 212 341 9759
Robert Madden
NASDAQ OMX
+001 646 441 5045
News Source: NASDAQ OMX
18.04.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: ICAP
GroÃbritannien
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901985740
WKN:
End of Announcement DGAP News-Service
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