Icap to Merge EBS and BrokerTec
The FX and fixed income trading platforms will be combined to form EBS-BrokerTec
EBS, which deals in FX, and BrokerTec, a fixed income electronic trading platform, will combine their over 3,300 customers from over 50 countries.
Michael Spencer, Icap group chief executive, will be chairman of EBS-Broker Tec. Gil Mandelzis, CEO of EBS, will be named CEO of EBS-BrokerTec.
Seth Johnson will no longer serve as BrokerTec's CEO, but will remain on Icap's Global Executive Management Group.
"Bringing EBS and BrokerTec together will allow us to deliver new products and reach new client segments," Spencer says. "We want to continue to expand our addressable market with the launch of innovative products into other asset classes."
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