Interdealer broker Icap’s electronic foreign exchange (FX) and fixed income division EBS BrokerTec has acquired FX platform and servicers provider Molten Markets.
According to EBS BrokerTec the acquisition of Molten Markets will enable the firm to provide asset managers with an expanded execution management system and trade cost analysis tools. Molten Markets CEO, Simon Wilson-Taylor, has joined EBS BrokerTec as head of EBS Institutional FX.
"This acquisition will allow us to address a clear and unmet need expressed by real money managers ─ to achieve demonstrable best execution from a single platform that also addressed the unique orkflow challenges they face," says Justyn Trenner, head of global strategy at EBS BrokerTec.
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