ICAP’s EBS BrokerTec to add Forex offering onto MyTreasury


EBS BrokerTec, the electronic Forex and fixed income business of ICAP plc (LON:IAP), today announced it has combined MyTreasury into its product portfolio. In addition, by leveraging its existing platform and established network, EBS BrokerTec is introducing Forex offering onto MyTreasury which will be available later in 2015. It will be branded “EBS Treasury”.

MyTreasury is an ICAP owned, established Money Market Fund (MMF) platform for the corporate treasury community.

The addition of the existing MyTreasury business into EBS BrokerTec, along with the integration of FX, is another key milestone in EBS BrokerTec’s expansion, expanding its product offering to include money market funds. EBS BrokerTec will benefit from MyTreasury’s infrastructure, distribution channels and community of more than 300 corporate organisations already actively trading on it.

logo-2The full FX offering for corporates is set to launch later this year, subject to regulatory approval, with the beta phase to start later this summer. Eight banks and ten corporates have signed up to participate in the beta launch. EBS Treasury will support FX spot, forwards and swaps, leveraging FX pricing from EBS Direct – EBS BrokerTec’s disclosed bilateral FX trading platform. Trades will be executed via a streamed Request for Quote (RFQ) model, a new addition to EBS Direct’s execution functionality, which will allow banks to stream tailored prices to corporates.

EBS Treasury will lead to greater efficiency for corporates that currently source FX liquidity and MMF products from multiple providers. EBS Treasury will integrate seamlessly into existing treasury management systems, ensuring a cost-effective and fully customisable service for the end-user and competitive brokerage rates for banks.

Justin Meadows, CEO, MyTreasury, said: “The merger of the MyTreasury platform with the EBS BrokerTec business will allow us to expand our offering by providing our large community of corporate treasurers with a unique set of intuitive trading and workflow tools across a multi-asset class offering. It allows us to bring together the existing strength of EBS BrokerTec’s robust infrastructure and MyTreasury’s footprint and expertise in the corporate space to provide the corporate community with integrated FX and MMF trading through a single screen. I am confident this newly integrated offering will prove to be a valuable and exciting platform for corporates wanting to access the FX markets.”

ebsbrokertec-logoAGil Mandelzis, CEO, EBS BrokerTec, said: “The MyTreasury team has done a fantastic job of building leading presence in the corporate space and they have a committed and satisfied corporate client base. The integration of the MyTreasury business with EBS BrokerTec is an exciting development as it supports our overall strategy to diversify our customer base and strengthen our multi-product offering, which will continue to expand further in 2015 and 2016. We are looking forward to growing our client base materially by offering existing and new corporate clients unparalleled, wide and integrated trading capabilities”.

Michael Spencer, Group Chief Executive Officer of ICAP, said:

“This is another milestone for ICAP in its multi-year strategy to further expand its electronic offering. It is an exciting development, as it grows our addressable market across multiple dimensions: servicing corporate clients and expanding its offering into Money Market Funds. In addition, MyTreasury has been a small standalone company within the ICAP Group for a number of years. The merging of the MyTreasury business into EBS BrokerTec is another step in our programme to fully integrate and align the capabilities across the ICAP Group, realizing significant revenue and cost synergies and leveraging the full scale of our products and services”.

To view the official announcement by ICAP, click here.

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ICAP's EBS BrokerTec to add Forex offering onto MyTreasury

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