ICAP Launches New Spot FX eMatching Platform, Spotmatch

July 01, 2021 - ICAP, part of TP ICAP Group, a leading provider of market infrastructure, today announced the launch of 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.

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.

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 first-in-first-out methodology. Matched trades then flow through to a client’s benchmark order book using post-trade solutions.

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.”