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The Chinese government’s China Foreign Exchange Trade System (CFETS) has choosen ICAP’s EBS BrokerTec for the next generation of FX and Fixed Income trading platform. ICAP’s unit is therefore becoming an integral part of the China’s official inter-bank market.
The deal is valued at $65 million and is spread over a three-year period, with EBS BrokerTec establishing a local office and development centre in Shanghai.
ICAP’s EBS BrokerTec will deliver the underlying technology for fixed income and foreign exchange (FX) electronic execution services in mainland China. The business will become part of NEX Group plc later this year, following the completion of ... (read more)