ICAP plc has signed a global agreement with Kalahari Limited to supply pricing software to all its major offices.

Systems have already been implemented in London, Europe and New York, with the current main focus of use being interest rate derivatives and foreign exchange.

The flexibility and in-house modelling capabilities of Kalahari's flagship
product k.A.C.E. has positioned it at the centre of the deal.

Peter Trenier, Managing Director, Kalahari Limited said: "The extension of Kalahari's relationship with ICAP plc is very significant to us. It is further evidence that the k.A.C.E. environment is fulfilling its promise as a major contributor to the global pricing scene in a wide variety of areas."

Lance Fisher, IT Director, Europe and Asia, ICAP plc said: "We have been users of Kalahari's WinDiamond32 and Trio Arbitrage products for many years and have been watching with interest the development of Kalahari's replacement product k.A.C.E. Our intention is to not only replace these tools but also to look to use the toolkit approach this new product offers."
He added: "k.A.C.E. compliments our strategy of using best of breed software
products in our business and integrating these to our global electronic broking initiatives."

k.A.C.E. (Kalahari Advanced Calculation Environment) is an intelligent price
discovery system. It is designed as a superior pricing tool for traders in
banks, money broking firms, utility companies, corporations and other trading institutions and has flexibility that allows bespoke design for each customer's requirements.

With over 1600 calculations embedded into the system from the best maths library experts in the industry, along with Kalahari's own libraries, k.A.C.E. is capable of pricing the most complex financial instruments, including overnight index swaps, currently traded within the money and energy markets.

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