Icap Taps IPC for Voice Trading Connectivity

The move, which will involve cooperative migration of Icap's circuit inventory onto Trader Voice, will provide the Icap's clients with expanded access to buy-side firms and investment banks, according to Ganesh Iyer, director of product marketing and management at IPC.

“We offer a ready-made ecosystem of 5,000 market participants on our network, and that includes major sell-side firms that are trading various asset classes, including over-the-counter derivatives,” Iyer says.

He also notes that while many markets are moving toward electronic connectivity, voice brokering remains relevant because of regulatory request-for-quote mandates, which for some OTC products are still satisfied through voice communications. “We facilitate whatever type of trading they want to do,” Iyer explains.

Additionally to Trader Voice, Icap also uses IPC’s Connexus financial extranet and Direct Connect Ethernet data service, providing a transport layer for data associated with Icap's swap execution facility as well as other asset classes.

In a statement, Alan Pittard, director of Icap’s vendor management, noted IPC's international reach as a main driver for the partnership. “IPC is an industry leader providing reach, scale and geographic coverage, with the levels of network resiliency and diversity we require. By using IPC’s Financial Markets Network services, we gain professionally-managed connectivity that enables us to provide our international clients with highly sophisticated access to financial markets across six continents.”