21 March 2022

Market Notice 2022.003.ISWAPEUROMTFSEF

21 Mar 2022 12:00

The purpose of this Market Notice is to confirm that with effect from on 01 April 2022 the iSwap GBP SONIA Market will transfer from the iSwap EU MTF/SEF Venue to the iSwap UK MTF Venue, operated by iSwap Euro Limited.

The GBP Market Maker Incentive Programme will continue to operate under the existing terms after the Venue transfer. These are detailed in the Rate Card.  

Venue documentation is available on the iSwap UK MTF Venue page at the link below

iSwap UK MTF Venue Page

Capitalised terms used in this Market Notice shall have the meaning ascribed to them in the iSwap Venue Rulebook, Rate Card or iSwap Market Maker Programme Rulebook.

Please direct any questions regarding this Market Notice to:

Email: i-swap@icap.com

Post: 

iSwap Euro B.V. 
Vijzelstraat 68 unit 109, 
1017HL, 
Amsterdam

TP ICAP Group, a leading electronic market infrastructure and information provider, today announced that it will launch an electronic Foreign Exchange trading platform in Singapore, with support from the Monetary Authority of Singapore (“MAS”).

The platform, which will use TP ICAP’s award-winning Fusion interface, will initially offer trading in Asian 1 Month Non-Deliverable Forwards (NDF) and will be expanded to include FX Forwards and additional tenors in Asian NDFs.

The launch is aligned with MAS’ strategy to strengthen Singapore’s standing as a major trading and corporate treasury hub, which will be furthered by TP ICAP’s industry-leading global broking business and client network.

Nicolas Breteau, CEO of TP ICAP, said: “TP ICAP’s decision to locate a Fusion FX platform in Singapore is an important part of our strategy to enable our clients to trade electronically and access our deep, global liquidity pools. Singapore is the third largest FX trading centre globally and the largest in Asia, and we believe that it will continue to grow.”

Lim Cheng Khai, Executive Director, Financial Markets Development Department of MAS, said: “MAS welcomes the launch of TP ICAP’s electronic Fusion FX trading platform in Singapore.  Singapore is geographically well-positioned to offer low latency connections to regional markets, and TP ICAP’s multi-dealer Fusion FX platform will enable market participants from across the Asia-Pacific region to benefit from an improved trading experience.”

Fusion is TP ICAP’s single sign-on, fully customisable electronic platform, from which clients can access the Group’s global liquidity pools across all products, asset classes, regions and brands.  Reflecting Fusion’s quality, Risk magazine has recognised it as best-in-class, awarding it ‘OTC Platform of the Year’ for 2022.

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 and Tullett Prebon 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.
• Parameta Solutions: formed of two businesses - Data & Analytics (D&A) and Post Trade Solutions.  D&A is the world leader in providing of scarce, neutral OTC data.  Consequently, it is well placed to offer unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions.  Post Trade Solutions provides pure electronic services focused on resetting, compression and repo.

www.tpicap.com

Media Contact

TP ICAP

Fay Rajaratnam

+44 7812811374 

Fay.Rajaratnam@tpicap.com

Maitland/AMO

+44 207 379 5151

tpicap-maitland@maitland.co.uk

In 2021, we saw the return of charities, their celebrity patrons and ambassadors to the ICAP broking floor in London and New York, raising an incredible £3.6 million globally.

The film below captures a part of this iconic event, showing some of the incredible charities we supported, their ambassadors and the ICAP brokers who make it all possible.

Charity Day 2022 – Save the Date

The 30th ICAP Charity Day will take place on Wednesday 7 December 2022.  Since it began in 1993, ICAP Charity Day has raised over £155 million and supported over 2,700 charitable projects around the world.

The commitment of our brokers, clients and charity partners and their ambassadors is what makes the event so special and this year was no different. Thank you to everyone involved.

March 8 represents a special day globally, marking the celebration of International Women’s Day. It is a call to action to accelerate gender parity and recognise the social, economic, cultural and political achievements of women.

The day has been marked in diaries for well over a century now, with the first IWD gathering in 1911 supported by over a million people in Austria, Denmark, Germany and Switzerland. Today, IWD is a global collective and its importance is as stark as it was back in the early 20th century.

#breakthebias

This year’s IWD theme is ‘Break The Bias’. But what does this mean? It is a movement that we support here at TP ICAP to not just imagine a gender equal world but make it a reality. If all areas of society play their part to #breakthebias, we can all benefit from a world that is free of bias, stereotypes, discrimination - where diversity in our communities and workplaces is valued and celebrated. Whether it occurs deliberately or unconsciously, bias makes it difficult for women to progress and fulfil their potential. Simply acknowledging that bias exists isn’t enough; action is needed to level the playing field.

So why is it so important we shift the current landscape? There is still a huge gulf in gender parity in nations across the globe. A World Economic Forum study last year actually found that the global gender gap has increased by a generation from 99.5 years to 135.6 years. We have also seen halted progression in the UK, with The Guardian reporting the gender pay gap reported by Britain’s biggest firms is widening. Women are being paid a median hourly rate 10.2% less than their male counterparts, nearly a percentage point higher than the 9.3% gap reported in 2018.

With these disappointing stats in mind, it is only right that celebrating International Women’s Day is part of TP ICAP’s agenda - putting gender diversity front and centre.

What we’re doing at TP ICAP

Here at TP ICAP we are committed to ensuring our work environment globally is an inclusive place to flourish. All of our employees – regardless of their gender, educational background, ethnicity, ability, age or sexual orientation – are owed an equal opportunity to succeed.

Since signing the Women In Finance Charter in September 2018, we have made significant improvements on gender balance at all levels of our organisation. As of September last year, we beat our target to see 25% senior women in the business by 2025. But there is more we can do and will do to secure future growth by building diversity into our succession pipeline.

In February, we launched the Women in Leadership Programme. Designed to have impact by giving all our women the tools and skills to boost and inspire career growth. All staff are encouraged to join the sessions – held throughout 2022 -  to get expert advice, knowledge and skills.

TP Accord – driving positive change

Our wider employee network, collectively known as TP ICAP Accord, supports our drive to improve diversity & inclusion across the business. It is another avenue for all staff to promote positive change within our employee groups in LGBTQ+, Multicultural, Sports & Wellbeing, Veterans’ and Women’s Networks. These networks have a combined aim to unite our employees, to celebrate our diverse workforce and to collaborate on areas of common interest.

As we celebrate what I hope is an impactful and landmark IWD, I encourage everyone to explore ways in which they can get involved and make our communities a more inclusive place for all.

Thank you.

Philip Price,

Group General Counsel, TP ICAP

8 Mar 2022 12:00

Market Making Agreement clauses 5.1.2 & 6.0 Suspension due to Exceptional Circumstances.

Due to the current conflict in Ukraine, and associated high levels of underlying market volatility, the iSwap EU MTF/SEF venue operator (iSwap Euro B.V.) under the terms of clause 6 of the agreement is suspending obligations on Market Makers to provide pricing to the iSwap EU MTF/SEF. 

This suspension is effective from 08/03/2020, applies for the full month of March, and remains in place until further notice. 

Once the exceptional circumstances have ceased and as soon as technically possible the venue operator will notify participants of the date that normal market making obligations will resume.

iSwap EU MTF / SEF Venue Page

Capitalised terms used in this Market Notice shall have the meaning ascribed to them in the iSwap Venue Rulebook, Rate Card or iSwap Market Maker Programme Rulebook.

Please direct any questions regarding this Market Notice to:

Email: i-swap@icap.com

Post: 

iSwap Euro B.V. 
Vijzelstraat 68 unit 109, 
1017HL, 
Amsterdam