TP ICAP Group, a leading global markets infrastructure and data solutions provider, and Speedwell, the environmental risk-management solution provider, have today announced the launch of the ICAP-Speedwell Climate Index (“the Index”). The Index, which is believed to be the first of its kind, uses global weather data to track climate change thereby allowing financial risk related to the rate of climate change to be traded.

The index has been launched to provide a reliable data source from which market participants can make better informed investment and hedging decisions. This in turn will enable the market to better manage financial risks associated with climate change.

Developed and maintained by Speedwell, the Index takes a representation of the average global temperature based on data taken from 50 independent, high-quality national weather stations from around the world. Designed to meet the needs of financial risk transfer, it provides the underlying data necessary for market participants to transact, tailored structures relating to climate change using over-the-counter futures and options.

As with a financial future or option, the Index will enable counterparties to flexibly create structures with varied payoffs over specific periods of time. Such transactions will enable the Index to provide a correlation between the global temperature change and financial risk appetite.

Nicholas Ernst, Managing Director, Weather Markets, TP ICAP said:

“At TP ICAP, we understand that many companies have significant and sometimes unquantified exposure to weather and climate risk. The first step in managing these exposures is to identify an index which can be used to quantify and then hedge these risks. This innovation is key in being able to develop hedging strategies relating to climate change.

“The introduction of the Index has the ability to dramatically change how people calculate the financial impact of global climate change, providing comprehensive data to quantify the impact of future temperature changes for the first time. Climate change is a significant financial risk and quoting markets in this way is an important step in not only measuring that risk, but also understanding the cost of climate change as we move towards a low-carbon economy.

“At TP ICAP, we apply our unique capabilities to provide clients with the tools they need to meet their sustainability objectives. We aim to be the leading broker for the transition to an inclusive and low-carbon economy; the launch of this Index marks a step forward in this ambition.”

David Whitehead, Co-CEO, Speedwell Weather, said:

“Speedwell has been involved in providing services to the environmental risk-transfer markets for over 20 years and so is delighted to now offer with TP ICAP a world-wide index that quantifies the direct impact of climate change on global temperatures.

“As with all Speedwell products the Index has been designed specifically for financial transactions.  Historical data will be made available for pricing and structuring; forward curves, market prices, and index forecasts will be available for managing risk, and certified Settlement Data for final settlement of open contracts.“


 

About TP ICAP Group plc

TP ICAP Group plc is a leading global markets infrastructure and data solutions provider.  The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:

• Global Broking: the largest Interdealer Broker in the world operating under the ICAP, Tullett Prebon and Louis Capital brands servicing clients in Rates, FX, Credit and Equities. We match buyers and sellers, facilitate price discovery, liquidity, execution and risk management.
• Energy & Commodities: the world’s leading OTC energy and commodities broker operating under the ICAP, PVM and Tullett Prebon brands. Active in all major commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals and soft commodities. 
• Agency Execution: serving the buy side operating under the Liquidnet and COEX Partners brands. We provide trading services for a broad range of asset classes, serving a sophisticated client base of asset managers, asset owners and hedge funds.
• Data & Analytics: the largest OTC data provider in the world operating predominantly under the Parameta Solutions brand offering unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions. 

         www.tpicap.com

About Speedwell Weather (www.SpeedwellWeather.com)

Founded in 1999, Speedwell Weather provides quality climate data, forecasts, software, and consultancy. From offices in the UK and the USA Speedwell serves clients world-wide in sectors including environmental-risk management, energy, insurance, and agriculture. Our data products include SuperPack® which provides unlimited access to our thousands of high-quality world-wide data sets. Speedwell Weather provides the Speedwell Weather System, an enterprise software system for pricing and managing a portfolio of environmental risk contracts.

About Speedwell Settlement Services (www.SpeedwellSettlementServices.com)

Speedwell Settlement Services is the leading provider of meteorological Settlement Data for index-based climate contracts worldwide. With a focus on transparency, accuracy, and reliability Speedwell provides Settlement Data for both over-the-counter transactions as well as exchange-listed contracts. In addition to data services Speedwell Settlement engages in weather station installation / management designed to support climate risk transfer. Speedwell Settlement Services Ltd has been granted a Part 4A permission under Part 4A of the UK Financial Services and Markets Act 2000 to carry on the regulated activity of administering a benchmark.

Media Contact
TP ICAP
Fay Rajaratnam
E: Fay.Rajaratnam@tpicap.com

For any non-media inquiries about the Index, please contact:
Nick Ernst, Managing Director of Weather Markets, TP ICAP
E: Nicholas.Ernst@icap.com

Joanna Nader, Global Head of Strategy at TP ICAP, has been named in Financial News’ Top 100 Most Influential Women in Finance for the second consecutive year.

The prestigious list, which is in its 15th year, recognises women in leadership positions in the sector across Europe that demonstrate significant influence over their business area, leadership within their sector, a strong performance over the last 12 months and the capacity to shape their business over the coming year.

Joanna joined TP ICAP in 2019 and has been recognised for her success in strategic commercial partnerships and joint ventures, as well as working on the acquisition of electronic trading platform Liquidnet, which was completed in March of this year.

Prior to TP ICAP, Joanna was head of Diversified/Speciality Financials Research at RBC Capital Markets.

Joanna Nader, Global Head of Strategy at TP ICAP, said, “It’s an honour to be recognised by Financial News as one of the most influential women in finance for two years in a row. Financial services is a sector that still struggles with gender diversity and highlighting senior female representation is a crucial part of overcoming that.  The FN 100 list brings to life just how many talented women there are across the financial services industry, and will hopefully help to inspire future generations of female leaders.”

Nominees are assessed by the FN’s editorial panel.

About TP ICAP Group plc

TP ICAP Group plc is a leading global markets infrastructure and data solutions provider.  The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:

• Global Broking: the largest Interdealer Broker in the world operating under the ICAP, Tullett Prebon and Louis Capital brands servicing clients in Rates, FX, Credit and Equities. We match buyers and sellers, facilitate price discovery, liquidity, execution and risk management.
• Energy & Commodities: the world’s leading OTC energy and commodities broker operating under the ICAP, PVM and Tullett Prebon brands. Active in all major commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals and soft commodities. 
• Agency Execution: serving the buy side operating under the Liquidnet and COEX Partners brands. We provide trading services for a broad range of asset classes, serving a sophisticated client base of asset managers, asset owners and hedge funds.
• Data & Analytics: the largest OTC data provider in the world operating predominantly under the Parameta Solutions brand offering unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions. 

         www.tpicap.com

Media Contact
TP ICAP
William Baldwin-Charles
E: William.Baldwin-Charles@tpicap.com

TP ICAP, the leading provider of financial market services, is pleased to announce that Philip Price, Executive Director, TP ICAP Group plc, has been appointed to the new National Numeracy Leadership Council.

Philip will join representatives from HM Treasury and senior executives from the UK’s leading businesses in an effort to help improve the nation’s numeracy. The Council will be led by Andy Haldane, CEO of the RSA and former Bank of England Chief Economist.

The Council intends to grow the network of organisations and individuals actively addressing the issue of poor numeracy and elevate the understanding and importance of the issue at a national level. The Council and its member organisations will also help support people to improve and use their numeracy by creating positive attitudes to numbers and maths, supporting financial wellbeing, increasing access to sustainable careers and, ultimately, stimulating productivity across the entire workforce.

Currently, half the working age population in the UK has the numeracy levels of a primary school child, putting the UK significantly behind other developed countries and is estimated to cost the country £25 billion a year.

Philip Price said: “Numeracy matters – for individuals, for families and for society overall. That’s why TP ICAP is proud to have supported National Numeracy since 2018 and we’re excited to join this new Leadership Council. Because engaging people to improve their numeracy skills and build their confidence is a critical part of fostering social mobility.”

TP ICAP is a strategic partner of National Numeracy and supports its work across communities, workplaces and the within the wider culture to help millions of people transform their lives.

For more information on the National Numeracy Leadership Council please visit the National Numeracy website: www.nationalnumeracy.org.uk

About TP ICAP Group plc

TP ICAP Group plc is a leading global markets infrastructure and data solutions provider.  The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:

• Global Broking: the largest Interdealer Broker in the world operating under the ICAP, Tullett Prebon and Louis Capital brands servicing clients in Rates, FX, Credit and Equities. We match buyers and sellers, facilitate price discovery, liquidity, execution and risk management.
• Energy & Commodities: the world’s leading OTC energy and commodities broker operating under the ICAP, PVM and Tullett Prebon brands. Active in all major commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals and soft commodities. 
• Agency Execution: serving the buy side operating under the Liquidnet and COEX Partners brands. We provide trading services for a broad range of asset classes, serving a sophisticated client base of asset managers, asset owners and hedge funds.
• Data & Analytics: the largest OTC data provider in the world operating predominantly under the Parameta Solutions brand offering unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions. 

         www.tpicap.com

Media Contact
TP ICAP
William Baldwin-Charles
E: William.Baldwin-Charles@tpicap.com

ICAP, part of TP ICAP Group, a leading provider of market infrastructure, today announces 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.”
 

View the SpotMatch Brochure here

About TP ICAP Group plc

TP ICAP Group plc is a leading global markets infrastructure and data solutions provider.  The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:

• Global Broking: the largest Interdealer Broker in the world operating under the ICAP, Tullett Prebon and Louis Capital brands servicing clients in Rates, FX, Credit and Equities. We match buyers and sellers, facilitate price discovery, liquidity, execution and risk management.
• Energy & Commodities: the world’s leading OTC energy and commodities broker operating under the ICAP, PVM and Tullett Prebon brands. Active in all major commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals and soft commodities. 
• Agency Execution: serving the buy side operating under the Liquidnet and COEX Partners brands. We provide trading services for a broad range of asset classes, serving a sophisticated client base of asset managers, asset owners and hedge funds.
• Data & Analytics: the largest OTC data provider in the world operating predominantly under the Parameta Solutions brand offering unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions. 

         www.tpicap.com

Media Contact
TP ICAP
Laura Whybrow
E: Laura.Whybrow@tpicap.com

TP ICAP, a leading provider of market infrastructure, is to launch an innovative wholesale trading platform for cryptoassets, working in collaboration with Fidelity Digital AssetsSM, Zodia Custody and Flow Traders.

The new platform, which is subject to registration with the UK Financial Conduct Authority[1], will feature a wholesale electronic marketplace for spot cryptoasset trading, including Bitcoin and Ethereum, as well as providing connectivity and post-trade infrastructure into a network of digital assets custodians. 

TP ICAP is required to register the TP ICAP Digital Assets Platform with the FCA under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“MLRs”). TP ICAP has submitted an application to the FCA and the platform will only launch once that registration process has been completed. The FCA’s responsibility under this regime is limited to AML/CTF registration supervision and enforcement only. It is not a license from the FCA or a recommendation or endorsement of the platform.

TP ICAP is working with Fidelity Digital Assets and Zodia Custody, both leading crypto assets custodians, to ensure clients have a segregated and interoperable model for execution and settlement, a key requirement for clients entering this new asset class. The firms have collaborated to develop a new trading model where clients will be able to access liquidity at TP ICAP whilst their assets remain under custody at their digital asset custodian of choice, providing a level of security that institutional investors expect.  Fidelity Digital Assets and Zodia Custody will provide custodian services to the new platform.

TP ICAP launched its Digital Assets business in 2019, enabling clients to trade cryptoasset derivatives products; this new trading platform for the spot market significantly expands the firm’s footprint in this fast-growing area.

Simon Forster, Co-Head of Digital Assets at TP ICAP, said: “Client demand to trade spot cryptoassets is significant and growing, with interest coming from our traditional customer base across the different asset classes we operate in.  But to date many of our clients have been prevented from accessing cryptoasset markets due to current limitations in market infrastructure, with most execution venues requiring pre-funding and also acting as custodian. This poses challenges from a conflict of interest perspective and results in fragmented liquidity. Our partnership, and resultant new platform, is a natural evolution in market structure that will make digital assets, such as Bitcoin, more accessible for the wholesale market.”

TP ICAP has also partnered with Flow Traders, a leading global financial technology-enabled liquidity provider in financial products, historically specialised in Exchange Traded Products (ETPs), now expanding into other asset classes. Flow Traders has been providing liquidity to cryptoasset markets since 2016 and will be one of the initial liquidity providers on this new platform.

Michael Lie, Head of Digital Asset Trading at Flow Traders said “We are delighted to be partnering with TP ICAP as a liquidity provider on this new platform. As the #1 market maker in cryptocurrency ETPs, as well as being a leading spot OTC liquidity provider, we have seen first-hand the increase in institutional interest in cryptoassets. We have long been in favour of initiatives such as this that will make the crypto space more accessible for investors.”

The platform has already started to onboard clients and will launch to the market in the second half of the year, by which time TP ICAP expects to announce additional liquidity providers. TP ICAP is also working closely with a number of additional strategic custody partners and expects to expand its network of digital asset custodians as it establishes a new industry model for clearing and settlement.

The TP ICAP Digital Assets business is led by Duncan Trenholme and Simon Forster and operates from the firm’s offices in London, New York, and will soon expand into Asia. The trading platform, which will be launched in London, will be made available globally to customers across the TP ICAP Group as well as to new clients of the firm seeking market access to this new asset class.

Andrew Polydor, Global Head of Markets at TP ICAP, said: “This platform will provide our global client base with the trading infrastructure, connectivity, surveillance, and market standards they require as a minimum across traditional markets whilst also recognising the nuances of this new asset class. It leverages mature trading technology developed by our partners GMEX Technologies, to provide spot liquidity in digital assets as well as access to multiple custodians via a bespoke post-trade solution. These are key requirements for our institutional clients who want to be able to trade, invest and safely access this growing area of the market.”

Chris Tyrer, head of Fidelity Digital Assets in Europe, said: “Collaborating with industry leaders like TP ICAP to bring to market innovative solutions that strengthen the digital assets ecosystem is critical to enabling even more institutional participation. With this new infrastructure, we’re addressing one of the frictions in the investor experience that’s unique to this nascent asset class. Now, investors can more confidently execute trades knowing their assets remain still and secure in our custody.”

Maxime de Guillebon, Chief Executive Office of Zodia Custody said: “Zodia and TP ICAP share the same vision of the future of crypto asset investing. By combining liquidity with institutional-grade custody we will create an ecosystem that complements the expectations of institutional investors in terms of segregation of duties and asset safety. This infrastructure will enable operational efficiency and speed of transaction without compromising on security or reliability.”

Zodia Custody is a venture incubated by SC Ventures, the innovation arm of Standard Chartered.  Zodia combines the Banks’ expertise as trusted custodians with the agility of a fintech company to drive industry leadership and transformation.  Zodia is a cryptocurrency custodian serving institutional clients across the globe. Zodia is in the process of registering with the FCA under UK Money Laundering Regulations and expects to launch commercially in the second half of 2021.

[1] TP ICAP is required to register the TP ICAP Digital Assets Platform with the FCA under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“MLRs”). TP ICAP has submitted an application to the FCA and the platform will only launch once that registration process has been completed. The FCA’s responsibility under this regime is limited to AML/CTF registration supervision and enforcement only. It is not a license from the FCA or a recommendation or endorsement of the platform.

Click here to see the website

Media Contact
TP ICAP
William Baldwin-Charles
E: William.Baldwin-Charles@tpicap.com

About TP ICAP Group plc

TP ICAP Group plc is a leading global markets infrastructure and data solutions provider.  The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:

• Global Broking: the largest Interdealer Broker in the world operating under the ICAP, Tullett Prebon and Louis Capital brands servicing clients in Rates, FX, Credit and Equities. We match buyers and sellers, facilitate price discovery, liquidity, execution and risk management.
• Energy & Commodities: the world’s leading OTC energy and commodities broker operating under the ICAP, PVM and Tullett Prebon brands. Active in all major commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals and soft commodities. 
• Agency Execution: serving the buy side operating under the Liquidnet and COEX Partners brands. We provide trading services for a broad range of asset classes, serving a sophisticated client base of asset managers, asset owners and hedge funds.
• Data & Analytics: the largest OTC data provider in the world operating predominantly under the Parameta Solutions brand offering unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions. 

         www.tpicap.com

About Fidelity Digital Assets

Fidelity Digital Assets offers a full-service enterprise-grade platform for securing, trading and supporting digital assets. A business of Fidelity Investments, Fidelity Digital Assets combines the operational and technical capabilities of the broader Fidelity organization with dedicated blockchain expertise to deliver a completely new offering for institutional investors. Learn more at http://fidelitydigitalassets.com

About Zodia

Zodia is a cryptocurrency custodian for institutional investors. Combining Standard Chartered’s deep, multi market expertise as a trusted custodian of traditional securities with the agility of a fintech we provide secure and innovative custody services to help institutions navigate the complex world of crypto. Zodia is in the process of registering with the FCA under UK Money Laundering Regulations and we expect to launch commercially in the second half of 2021.

Please visit our website and follow us on LinkedIn.

About Flow Traders

Flow Traders is a leading global financial technology-enabled liquidity provider in financial products, historically specialized in Exchange Traded Products (ETPs), now expanding into other asset classes. Flow Traders ensures the provision of liquidity to support the uninterrupted functioning of financial markets. This allows investors to continue to buy or sell ETPs or other financial instruments under all market circumstances. We continuously grow our organization, ensuring that our trading desks in Europe, the Americas and Asia can provide liquidity across all major exchanges, globally, 24 hours a day. Founded in 2004, we continue to cultivate the entrepreneurial, innovative and team-oriented culture that has been with us since the beginning. Please visit www.flowtraders.com for more information.