Icap clinches $65m CFETS deal
Icap-owned EBS BrokerTec will provide technology for fixed-income and FX electronic execution services in China
The China Foreign Exchange Trade System (CFETS), the country's official interbank market-trading platform and infrastructure provider, has appointed Icap to supply the technology for fixed-income and foreign exchange electronic execution services, the interdealer broker announced on June 3.
The deal, valued at $65 million over a three-year period, will see Icap-owned EBS BrokerTec open a local office and development centre in Shanghai, thus expanding its footprint on mainland China.
"China is an
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