MCAP adds U.S. Treasury bonds to 24/7 trading offering

Rick Steves

“We look forward to providing dependable liquidity to both our existing customer base and new overnight customers.”

MCAP Inc. has expanded its 24-hour trading offering to include U.S. Treasury bonds, said the financial technology company and electronic securities market maker.

The company operates as a financial technology company with three subsidiaries:

  • MCAP Technologies LLC, a provider of financial technology software that connects institutional investors, broker-dealers, and companies to the global equity and fixed income markets on a 24/7 basis;
  • MBIT LLC, a digital asset company focused on blockchain integration in the global financial markets;
  • MCAP LLC, a U.S. based broker-dealer focused on electronic securities market making.

MCAP focuses on developing technologies to provide customers with algorithmic and customized trading solutions for unique market access.

MCAP LLC hired Richard Brown to lead overnight sessions

The firm’s broker-dealer subsidiary, MCAP LLC, recently hired Richard Brown, based in Napa, California, to lead the overnight sessions with a focus on Asian customers.

Richard Brown will play a key role in the expansion of the company’s Asian fixed income customer base and will help expand the MCAP’s existing 24-hour trading capabilities for institutional customers.

MCAP has offered overnight market access and liquidity services in ADRs and foreign equity securities for much of the last decade.

MCAP expanding further into 24-hour trading and liquidity offerings

Michael Franzese, Senior Managing Director and Head of Fixed Income at MCAP, said: “We are excited to have Rich join as we expand further into 24-hour trading and liquidity offerings for our institutional customer base. Rich’s expertise in the U.S. Treasury market and his strong customer relationships in Asia are a great fit for us. We look forward to providing dependable liquidity to both our existing customer base and new overnight customers. We are excited to have Rich join our team and look forward to expansion outside of U.S. domestic trading hours.”

David Menn, CEO at MCAP, commented: “We look forward to further expanding our 24-hour trading offering for customers to include U.S. Treasury bonds. Rich’s expertise in the U.S. Treasury market and strong customer relationships will further enhance our product offerings. MCAP LLC continues to position itself as a leading financial technology, securities execution, and customer-focused company.”

Read this next

Digital Assets

Binance tames up with Japan’s biggest lender to launch stablecoins

Binance Japan is planning to launch stablecoins denominated in the dollar, euro, and yen in Japan in 2024. The crypto exchange aims to introduce these tokens, and possibly more, through its partnership with Mitsubishi UFJ Financial Group’s trust banking arm.

Institutional FX

Spot FX volumes drop +10% at CLS in August 2023

Total daily traded volume submitted to CLS for settlement took a step back in August as the summer typical lull hit market activity. The metrics showed a weak performance in the group’s FX business as the Q3 got off to a calm end while no fresh events were able to whip up a market frenzy.

Digital Assets

Veteran iGaming Team Launch Crypto Casino Portal

CryptoCasinos.Casino launches as a premier destination for crypto gambling aficionados, offering in-depth reviews, comparisons, and resources to navigate the burgeoning world of cryptocurrency-based casinos seamlessly.

Digital Assets

Xsolla Announces Acquisition of AcceleratXR, A Multi-Player Platform For Games

Xsolla enhances its gaming tech suite with the acquisition of AcceleratXR, bolstering cross-platform game development and pioneering advancements in cross-play experiences for players worldwide.

Digital Assets

OKX’s PoR report shows no solvency concerns, assets worth $11.2 billion

Cryptocurrency exchange OKX has released its 11th consecutive proof-of-reserves report amid increasing demand of crypto investors asking for transparency from exchanges they trade with.

Digital Assets

Horizen Launches Decentralized Governance with Introduction of Horizen DAO

Horizen inaugurates a novel decentralized autonomous organization, inviting broader community participation and heralding a new chapter in blockchain governance.

Digital Assets

Binance France induces users to convert their fiat into crypto

Following the expiration of its partnership with Paysafe, Binance France urged its customers to convert their fiat currency holdings on the platform into cryptocurrencies.

Industry News

Exness Crowned as Best Global Multi-asset Broker at Forex Expo Dubai 2023

Cyprus-based Exness garners top honors at the Forex Expo Dubai, solidifying its esteemed position in the global financial arena.

Retail FX

CySEC cancels license of 101investing parent following €200,000 fine

The Cyprus Securities and Exchange Commission (CySEC) confirmed on Tuesday that it has wholly withdrawn the Cyprus Investment Firm (CIF) License of FX retail brokerage firm FXBFI Broker Financial Invest Ltd, trading as 101investing.