ICAP Launches Russian Ruble Fix on EBS platform

26 January 2011


London, 26th January 2011 – ICAP, the world’s premier interdealer broker, announced today the addition of a new Russian Ruble Fix to trading capabilities on the EBS foreign exchange platform, which is used daily by more than 2800 spot FX, precious metals and NDF traders in over 50 countries. The new Ruble Fix is the latest addition to a growing number of the world’s frequently used FX fixings now available on EBS.

Dave Rutter, Chief Executive of ICAP Electronic Broking, said:
“Earlier this month the IMF said emerging economies are set to grow nearly three times faster than those in established markets next year. Growing markets like Russia need the efficient price discovery and effective execution capabilities that come with electronic trading, and customers require products that are tailored to their specific needs. EBS is actively enabling new growth markets trading opportunities by introducing innovative new order types such as the Ruble Fix.”

Darryl Hooker, Global New and Emerging Markets Manager, ICAP Electronic Broking, said:
“Trading counterparties on Ruble have increased more than fourfold in the last twelve months and we have seen trading volumes increase more than 17 times over the same period. We have seen a clear uptake in Ruble trading from regions outside of EMEA and are looking forward to working with our customers to deliver the most efficient trading solutions in the market.”

Contacts
Mike Sheard                Director of Corporate Affairs              +44 (0) 20 7050 7103
Alexandra Umpleby   Head of Media Relations                    +44 (0) 20 7050 7104
Alex Dee                      Head of Investor Relations                 +44 (0) 20 7050 7123


About ICAP
ICAP is the world’s premier 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, foreign exchange, emerging markets, equities and equity derivatives through voice and electronic networks. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com



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Bryony Scragg
Media Relations - NEX
bryony.scragg@nex.com 0207 818 9689 LinkedIn
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