Icap Invests in Portfolio and Data Analytics Firm EFM
EFM says it will be using Icap funding to extend its product offering and global reach to meet the increasing demand from buy-side companies that require flexible reporting and analytics platforms.
"EFM has clearly demonstrated their advanced portfolio analytics that deliver the transparency and operational insight increasingly required by buy-side participants," says Mark Beeston, CEO of portfolio risk services at Icap. "EFM's technology is a strong fit for ICAP and will complement our suite of services to help our customers drive the efficiencies demanded in today's trading environment."
The transaction was made through Icap's fintech incubation vehicle, Euclid Opportunities, and Steve Gibson, Euclid Opportunities' MD, will be joining the EFM board.
Terms of the investment were not disclosed.
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