TP ICAP Launches Post-Trade Solution for Fixed Income in United States

Rick Steves

“Our network of corporate bond and emerging market traders is one of the largest in the US, and through Matchbook Rebalance we’re able to offer a high-quality risk mitigation solution.”

TP ICAP has launched a regulated, pure electronic post-trade solution that reduces residual risks in fixed income portfolios, in the United States. The product was successfully released across TP ICAP’s EMEA operations at the end of last year.

Going by the name of Matchbook Rebalance, the service can be deployed across High Yield and Emerging Markets. The firm plans to roll out the solution across Investment Grade products within Q1 2021.

Using TP ICAP’s proprietary algorithmic trading technology, Matchbook Rebalance replaces the FUSION Scrapbook platform which was launched in 2018.

Fausto Serrano, Head of eCredit and Matchbook Rebalance Americas, commented: “Our network of corporate bond and emerging market traders is one of the largest in the US, and through Matchbook Rebalance we’re able to offer a high-quality risk mitigation solution. Our business is focused on electronification and, through innovative platforms such as this, we’re able to make trading easier and more effective for our clients.”

The market infrastructure company has recently appointed Andrew Polydor as Head of Global Markets. He will be responsible for the Group’s Global Broking division in addition to his current responsibilities as head of TP ICAP’s Energy & Commodities.

As head of Global Broking at TP ICAP, a position he has held for 12 years, Mr. Polydor is in charge of the largest interdealer broker in the world and services markets in Rates, FX & Money Markets, Emerging Markets, Equities, and Credit products. In 2019, Global Broking’s revenues were £1.2 billion.

TP ICAP has also recently launched Fusion Islamic Finance, a new platform that facilitates Commodity Murabaha transactions and provides liquidity to the Islamic financial marketplace. The platform enables clients to purchase assets and take advantage of growth opportunities in the Halal sectors, infrastructure, and Sukuk bonds. The Islamic financial marketplace has grown to be worth USD 2.44 trillion in 2019, up from USD 2.05 trillion in 2018.

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