ICAP upgrades post-services under new leadership

ICAP has expanded its post-trade services in line with upcoming MiFIR and MiFID II obligations, under the new leadership of Jenny Knot.

As part of the expansion the firm’s post trade risk and information division (PTRI) will now aim to offer customers an end-to-end menu of products that satisfy regulatory obligations.

ICAP has also created its own approved publication arrangement (APA) service.

This new development is further expansion on developments made to Traiana, ICAP’s post-trade arm, for requirements outlined under Dodd-Frank and EMIR regulations.

The PTRI’s own APA will be the first to connect to the new framework that aims to launch in the first quarter of 2017.

Knott, chief executive officer, post trade risk and information, took over towards the end of 2015.

“ICAP is once again at the forefront of innovation with agnostic connectivity and the ability to support market participants in meeting their regulatory clearing, publication and reporting obligations in an accurate, efficient and flexible manner,” she said.

New MiFID and MiFIR rules are set to come into force on January 3 2018 requiring investment firms entering into OTC transactions to meet requirements including increased transparency.