Japanese financial information vendor Quick Corp. has added Icap’s Global Fixing Series (Icap Fix) to its terminals to aid customers with their internal regulatory and inventory pricing needs.??
The Fix service, derived from Icap’s global voice and electronic broking operations, provides a verifiable range of market data that can be used for referencing and validating data for product and credit control, risk management and mark-to-market positions.
Coverage includes interest rate derivatives, inflation swaps, money markets and forward foreign exchange. The service offers around two thousand instruments fixed at least once every day, with key EUR, GBP and USD interest rate swap data fixed on an hourly basis. Additional currencies, terms and asset classes are being added as per client request and market demands, Icap says.
The partnership follows an announcement made by Quick Corp. earlier this month that it would calculate the Tibor (Tokyo interbank offer rate) on behalf of the Japanese Bankers Association and distribute that as part of its overall reference rate and fixing service offerings.??
The Icap Fix service expands on existing Icap enterprise data services that are available to Quick Corp.’s customers, such as real-time global FX and cross currencies data, forwards, NDFs, interest rate derivatives, credit derivatives and global fixed income data. In addition, Icap’s EBS FX data and end-of-day mark-to-market and historical data are available via Quick’s services. ?
Mark Benfield, regional director of Icap Information Services – Asia Pacific, says over the past two years he has seen exponential growth in demand from customers in Japan for greater access to accurate over-the-counter market data.
“This has meant investment by Icap in continuing to work actively with our vendor partners and clients to structure new product options such as Icap Fix, as well as ensuring flexible access and distribution models to meet customers’ needs,” he says.