News, news and more news from Icap
There’s been a fair amount of news flowing from Icap this week.
The company announced another bumper month of activity on EBS, the cash cow it bought on the cheap from a consortium of banks that should have known better. Daily turnover averaged a whopping $244.6 billion in November. This is a new record, beating the previous best of $241.5 billion set in August.
The company also announced that it had completed the acquisition of Traiana for $238 million in cash and $9 million of Icap, which will vest within four years. Meanwhile, EBS is now directly connected to Traiana’s Harmony network, apparently in response to customer demand.