ICAP Global Broking executes first matching session in ZAR government bonds

ICAP plc (LON:IAP), a leader in markets operating and provision of post trade risk mitigation and information services, announced today that ICAP Global Broking has launched its first matching session in South African rand (ZAR) local currency government bonds.

Executed via ICAP Global Broking’s e-Commerce portal, ICAP’s voice brokers in London and Johannesburg are running multiple matching sessions per day for ZAR government bonds. This service can be increased depending on demand.

200_south-african-rand1The new matching sessions come after the launch of corporate Eurobonds in June 2015, as ICAP Global Broking is enhancing its hybrid capability and expanding the number of matching sessions it runs through the e-Commerce portal.

Clive England, Global Head of Matching, ICAP Global Broking, said: “We are encouraged by the success of the first series of ZAR government bonds matching sessions, which have received strong market interest. Having offered screens in this market for 10 years, pooling liquidity and streamlining the trading process through this new product was the next logical step for the business.”

Dean Berry, Global Head of eCommerce, ICAP, said: “Providing enhanced services and functionality through the e-Commerce portal , Global Broking customers can view ZAR government bonds-related news feeds, intraday pricing and participate in matching sessions in one consolidated view, benefiting from the expertise, market knowledge and assurance that our voice brokers are behind the trade.”

David Casterton, CEO Global Broking, ICAP, said: “Global Broking’s e-Commerce portal has successfully provided an electronic offering to customers which enables trades to be concluded with the assistance of our voice brokers. As we grow our global footprint in hybrid execution services, we’re pleased to announce the launch of the ZAR government bonds matching session, and look forward to rolling out further matching sessions across all asset classes over the next 12 months.”

To view the official announcement by ICAP, click here.

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