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ICAP expands global electronic trading in the Australian and New Zealand dollars

ICAP (IAP.L) is introducing electronic trading in the Australian dollar (AUD) and Kiwi dollar (NZD) as a tradable pair, enhancing visibility and liquidity in both currencies for traders around the globe.

The two will go live as an electronically tradeable currency pair on Monday, 30 April on the global EBS foreign exchange trading platform, widely regarded as the source for the spot FX market in the most traded currency pairs and is used by more than 2,500 traders around the globe.

The decision to launch the AUD/NZD pair follows demand from FX traders and comes one month after the launch of NZD/USD on EBS, which enabled traders to view the NZD tradable pairs alongside the other major dollar, euro and yen currency pairs, and precious metals, on the same screen.

Darryl Hooker, Emerging Markets Manager, ICAP E-Broking, said: “Liquidity in both the Kiwi and Aussie dollars against the US dollar has been building and traders asked us to provide them as a direct tradable pair.

“Our position as the global provider for the major traded currencies, particularly the US dollar, euro and yen pairs, make us an obvious choice for trading the Aussie Kiwi pair.
It was the natural next step for us to meet their trading requirements.

“This will increase global visibility of both pairs together with access to the electronic global book on one dealing screen and to price, depth and liquidity and trading in the G7 currencies all on the same screen through the EBS platform.”
Both the Aussie and New Zealand dollars are traded substantially in their home markets and the major currency markets in Asia, Europe and America, where demand is growing for both currencies for a range of investment strategies.

Giving access to them on the EBS platform puts both currencies in front of thousands more trading institutions across both emerging and developed markets, leading to increased, additional liquidity.

The EBS platform is an award-winning screen-based anonymous dealing system for professional spot FX traders, operating 24 hours a day, seven days a week. The continued increase in volume of deals transacted daily creates unparalleled liquidity and access to a global community of traders, bringing together buyers and sellers, bids and offers in an orderly marketplace.

ICAP has a strong presence in the Australasia and Asia regions, with a major share of the key yen market and offices in Wellington, Sydney, Singapore, Tokyo and Hong Kong.