NEX Group

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NEX Group
Founded 2016
Headquarters London
Key People Michael Spencer, Chief Executive
Employees 1,600

NEX Group is the new name given to the former ICAP when the company merged with Tullett Prebon and sold off its brokerage business to Tullett. The deal gave the ICAP brand to the brokerage business now owned by Tullet and rebranded the rest of ICAP as NEX Group. The renaming completes the company's shift from voice broking to specializing in electronic markets and post-trade services.[1]

Before the name change, ICAP had already lowered the number of telephone brokers it employed by 8.6 percent from the previous year.

The new Tullet-owned brokerage business was named TP ICAP.

NEX Group incorporates a number of entities into its business, some of which were previously acquired by ICAP. Those include:

  • Abide Financial, a global regulatory reporting specialist that ICAP acquired in October 2016
  • EBS BrokerTec
  • ENSO, a financial technology company NEX acquired in early 2017
  • Euclid Opportunities, NEX Group’s financial technology investment business
  • NEX Data
  • NEX Exchange
  • Reset
  • Traiana
  • TriOptima

History

See "History" on the ICAP MarketsWiki page.

Products and Services

NEX Group provides electronic platforms and tools for the professional trading community.[2]

NEX has four business lines:

  • NEX Markets supplies the electronic execution platforms that the professional trading community wants. (EBS BrokerTec is part of NEX Markets.)
  • NEX Optimisation offers a portfolio of cloud hosted services across the transaction lifecycle. It encompasses Abide Financial, ENSO, NEX Data, Reset, TriOptima and Traiana.
  • NEX Opportunities (Euclid Opportunities?)
  • NEX Exchange works with issuers, investors, advisers and brokers to provide a platform for equity and bonds.

Technology

NEX Group chose Nasdaq's Smarts market surveillance technology to provide the technology to monitor its FX and fixed income trading venue EBS BrokerTec for fraud and market abuse.[3]

Key People

References

  1. ICAP to Become NEX Group to Start Life After Voice Broking. Bloomberg.
  2. Markets. NEX.
  3. Nasdaq to help NEX spot fraud and market abuse. Financial News.