ICAP Launches Spot FX eMatching Platform SpotMatch

Fazzaco learned that ICAP, part of TP ICAP Group, announced the launch of SpotMatch, a new Spot FX eMatching platform, to meet client demand for an alternative and cost effective eMatching solution.

The new platform 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. The secure platform enables traders to submit orders prior to pre-scheduled FX matching events and take advantage of first-in-first-out methodology. 

Andrew Berry, Senior Managing Director at 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."

Fazzaco recently reported that TP ICAP has partnered with Fidelity Digital Asset, Standard Chartered's Zodia Custody and Flow Traders to launch cryptocurrency spot trading services​ for institutions.