EBS BrokerTec combines MyTreasury into product portfolio, entering the corporate client segment and Money Markets

28 July 2015

- EBS BrokerTec leverages the infrastructure and footprint of the established and award-winning MyTreasury platform

- FX is introduced on MyTreasury and will allow corporate treasurers to trade FX and Money Market Funds on a single screen

London, New York, Hong Kong, 28 July 2015 – EBS BrokerTec, ICAP’s market-leading electronic foreign exchange and fixed income business, announces that, in line with its multi-product expansion strategy it has combined MyTreasury into its product portfolio. MyTreasury is an ICAP owned, established Money Market Fund (MMF) platform for the corporate treasury community. Furthermore, by leveraging its existing platform and established network, EBS BrokerTec is adding an FX offering onto MyTreasury which will be available later this year. It will be branded “EBS Treasury”.

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

The full FX offering for corporates will launch later this year, subject to regulatory approval, with the beta phase commencing 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.”

Vijay Panday, Director Group Treasury & Risk Management at KLM, said: “It’s good to see MyTreasury continue its multi-product strategy by adding FX trading to its excellent money market trading platform. An integrated platform like this with intuitive workflow and the same look and feel as the MMF platform has the potential to significantly improve treasury trading and reporting. These benefits will only multiply as more products continue to be added.”

Séverine Le Blevennec, Director, EMEA Treasury, Honeywell, said: “The addition of FX trading to MyTreasury is a positive step towards the delivery of the multi-product, multi-bank platform that all corporate treasuries are looking for. The launch of a seamlessly integrated MyTreasury platform delivering FX trading with the same intuitive technology and high level of customer service we have always experienced with the MMF platform is a very welcome addition to the market. The benefits from an integrated platform like this will only multiply as more products continue to be added.”

Auna Dunlevy, Head of Liquidity and Investments, Royal Mail Group, said: “We already use the MyTreasury platform to trade money market funds and are pleased with the service it has provided. The addition of FX products to MyTreasury represents a significant step along the path towards a single platform covering the full range of corporate treasury trading needs. I'm sure many corporates will be following this, and other future planned product additions, very closely.”

Gil 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”.

ENDS

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About EBS BrokerTec
An award-winning ICAP Group division at the heart of the foreign exchange and fixed income global markets, EBS BrokerTec is a market-leading e-trading technology and solutions provider, offering access to multiple execution options and diverse, valuable liquidity. Constantly creating new, ground-breaking solutions, while continuously investing in proven, market-leading platforms and products, the division provides exceptional value to a globally diverse community of professional traders. For more information, go to www.ebsbrokertec.com

About MyTreasury
MyTreasury is an award-winning multi-product, multi-bank, multi-currency cash investment portal designed to meet the trading needs of corporate treasurers. The Group offers a wide range of fully automated services including market discovery, secure trading, risk management and consolidated reporting.

About ICAP
ICAP is a leading markets operator and provider of post trade risk mitigation 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 its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.

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