ICAP Information launches data package covering African OTC markets

Maria Nikolova

The new product will make data captured by ICAP’s South African desk available commercially to the general marketplace.

ICAP Information, part of international interdealer broker TP ICAP Plc (LON:TCAP), has launched a data package covering African OTC markets. The new product will make data captured by ICAP’s South African desk available commercially to the general marketplace for the first time, including many areas for which there has previously been no data available.

The information covers multiple asset classes including FX, fixed income and interest rates across a wide range of countries and regions throughout the continent, namely Botswana, Ghana, Kenya, Mauritius, Nigeria, South Africa, Tanzania, Uganda, and Zambia.

The release results from the closer relationship between TP ICAP’s Data & Analytics and broking divisions, as the company seeks to boost the collaboration between its business units and diversify its product and client base. The information in the new offering will be beneficial to customers with exposure to the continent across a number of day-to-day activities, from the front-office, covering price discovery and accurate securities pricing, through to the middle and back offices including risk management, valuation and independent price verification.

In July this year, ICAP Information launched a comprehensive market data service for the Indian OTC market. The service aims to allow participants to access information based on real-time bids and offers, rather than having to rely on indicatives. The service sources data from five desks – four onshore and one offshore – as well as provide real-time data direct from I-Stream, India’s first and largest electronics swaps trading platform. Users will gain direct access to real-time data relating to INR denominated Money Markets, FX, Interest Rate Derivatives and Fixed Income instruments across the region.

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