EBS Buy Aids Icap's Cross-Asset Push
FRONT PAGE: FX TECHNOLOGIES
LONDON—Interdealer broker Icap is expected to save itself millions in network infrastructure and IT costs as a result of its $775 million acquisition of consortium-sponsored foreign exchange (FX) spot broker EBS Group (EBS).
The acquisition announced late last week could also lead to a merging of Icap's electronic broking platforms and the electronic spot FX technology of EBS. However, some observers suggest that the EBS IT arsenal could be scrapped. Whatever the outcome, Icap is heading toward
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