New BrokerTec platform enhances performance and user experience in European fixed income market
14 June 2012
London, 14 June 2012 – ICAP, the world’s leading interdealer broker, today announces that its electronic fixed income business, BrokerTec, has successfully launched a new trading system for European fixed income products, using a customised version of the NASDAQ OMX Genium INET platform.
The upgrade, which follows the successful rollout of the new system in the US in March, will provide all BrokerTec customers, including manual and API traders, with increased performance and an improved user experience.
The enhanced platform retains all the functionality previously available on the system, including built-in capabilities for manual traders, while enabling BrokerTec to increase order volume tenfold and decrease order input latency by over 100 times in most cases.
John Edwards, Director of Fixed Income (EMEA) at BrokerTec, said: “Our customers require fast throughput and low latency which BrokerTec delivers, with round trip times measured at our London gateways down from 45 milliseconds to under 0.2 milliseconds. This improvement is due to the efficiency of our new trading system and the relocation of our matching engine from Sweden to the Equinix data centre just outside London.
"The BrokerTec EU upgrade will allow us to offer a co-location in London via our i-Cross facility at the Equinix data centre and this service will be of great interest in particular to our European Government Bond clients. The upgrade will also enable us to release an improved market data distribution service. Both these services are already in place and being used extensively in the US.
“Thanks to close cooperation with our customers and the dedication of the BrokerTec teams in London and the US, the migration to the new BrokerTec platform has been seamless and delivered exactly to schedule.”
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Brigitte Trafford Director of Corporate Affairs +44 (0)20 7050 7103
Alex Dee Head of Investor Relations +44 (0)20 7050 7123
Andrea Coleman Maitland +44 (0)20 7379 5151
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 venue for the fixed income markets, providing innovative technology solutions across a wide range of products to customers in 50 countries around the world. BrokerTec delivers efficient, transparent, anonymous and orderly electronic fixed income trading opportunities for all market participants. The BrokerTec offering includes trading solutions for many US and European fixed income products, including US Treasuries, European Government Bonds and European Repo. BrokerTec facilitates both API and manual trading, delivering solutions to support a broad range of trading strategies. www.icap.com/brokertec