ICAP and Clarus announce new data service for OTC derivatives

ICAP plc (IAP.L), a leading markets operator and provider of post-trade risk mitigation and information services, and Clarus Financial Technology, a provider of services to the global derivatives market, today announce a new OTC data service offered by the two groups. Under the new agreement, Clarus will distribute ICAP’s award-winning benchmark derivative pricing within Clarus’ “SDRView – Professional” including ICAP’s Interest Rate Swaps, FRAs, OIS Swaps and Basis Swaps quoted in AUD, CAD, EUR, GBP and USD.

ICAP Information Services (IIS) has provided the data in order to articulate an aggregate view of best bid/ask levels across ICAP’s on/off SEF marketplaces for each currency and product once each hour. Clarus is overlaying this pre-trade transparency on its comprehensive, intra-day analysis of aggregated Swap Data Repository (SDR) post-trade reporting. This insightful analysis is available on Clarus’ “SDRView – Professional” at https://www.clarusft.com/products/sdr-view/.

Mark Beeston, CEO of Portfolio Risk Services for ICAP, said: “In the new Dodd–Frank environment, mandated post-trade transparency is a requirement, and the ICAP information on Clarus’ SDRView accurately meets those needs by reflecting price levels at which the market is formulating its “next” trade. We look forward to working with Clarus and offering this exciting new product to our customers.”

ICAP Information Services is a unit of ICAP’s Post Trade Risk and Information division. The Group provides data services across all key asset classes and offers innovative solutions for real-time, end-of-day and historical products. As the leading provider of OTC market information, IIS is at the forefront of delivering independent data solutions to financial market participants.

Amir Khwaja, CEO of Clarus Financial Technology, said: “By creating a single screen that brings together in real-time the last trades executed under US regulations to the DTCC Swap Data Repository, alongside the consensus pre-trade prices from ICAP, we believe we are creating a unique and must-have destination. And by delivering all this in a Web Browser, we are creating a new level of transparency and open access for such data. One that is independent of existing proprietary networks and one that we believe will appeal to both the Buy-Side and the Sell-Side.”

Parties interested in subscribing to the Clarus SDRView with the ICAP information should contact ICAP at [email protected]. 

ICAP Media Contacts:

Brigitte Trafford           ICAP Corporate Affairs           +44 (0) 20 7050 7103
Serra Balls                  ICAP Communications UK        +44 (0) 20 7050 7124
Guy Taylor                  ICAP Communications US        +1 212 341 9759

Clarus Financial Technology Media Contacts:

Tod Skarecky             Clarus North America              +1 312 451 1116
Amir Khwaja              Clarus Europe & Asia-Pacific +44 (0)7771 824 036

About Clarus Financial Technology
Clarus Financial Technology provides applications, software and services to the Global Derivatives Market. These markets are undergoing massive regulatory changes, which require participants to operate in a new world of Swap Execution Facilities (SEFs), Central Counterparties (CCPs) and Swap Data Repositories (SDRs). Our applications, software and services are designed to empower firms to operate successfully in a post- reform world, in a more connected world, a more transparent world. For more info, go to www.clarusft.com

About ICAP

ICAP is a leading markets operator and provider of post trade risk mitigation and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through its post trade risk mitigation and information services ICAP helps customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.


Stay informed with our FREE newsletter, subscribe here.

Leave a Reply

Your email address will not be published. Required fields are marked *