ICAP Launches FX eMatching Platform, SpotMatch


ICAP, part of TP ICAP Group has announced that the company has released SpotMatch, a brand new fully automated and advanced Spot FX ematching platform.

July 1, 2021, | AtoZ Markets – TP ICAP plc (LON:TCAP), the world’s biggest inter-dealer broker has launched its newest electronic offering, SpotMatch. This is an advanced, fully automated Spot FX matching platform, which has been developed to meet client demand for an alternative and cost-effective eMatching solution.

According to the announcement on Thursday, the service will provide clients with access to a deep pool of liquidity across the interbank marketplace due to ICAP’s diverse bank relationships, resulting in superior matching opportunities.

Read also: TP ICAP to Launch Crypto Trading Platform with Fidelity, Standard Chartered

This new product is a key part of TP ICAP’s electronification strategy, using state-of-the-art HTML5 technology and FIX API connectivity to deliver a market-leading product for clients. The secure platform enables traders to submit orders prior to pre-scheduled FX matching events and take advantage of the first-in-first-out methodology. Matched trades then flow through to a client’s benchmark order book using post-trade solutions.

Commenting on the launch of the FX eMatching Platform, Andrew Berry, Senior Managing Director, ICAP said:

We have developed SpotMatch to meet client demand. Following many discussions with our clients it became clear there is a need for a simple, user-friendly interface for eMatching trading across FX Markets. We’re continuing to focus on electronification right across the business and this is another example of where TP ICAP is taking important strides forward to deliver innovative electronic offerings in key marketplaces.”

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