ICAP, the global interdealer broker and GreTai Securities Markets, the over-the-counter (OTC) securities market in Taiwan, have entered into a strategic partnership to provide onshore access to US government bond trading in Taiwan.
Under the agreement, GreTai will offer qualified Taiwanese securities firms access to ICAP’s global US Treasuries liquidity pool through GreTai’s bond trading platform, which is integrated into ICAP’s BrokerTec matching engine based in New York. The BrokerTec platform is a platform for the electronic trading of US Treasury products.
BrokerTec’s straight through processing automatically processes trades, allowing for improved execution and settlement, while simultaneously reducing costs and inefficiencies associated with traditional paper-based methods.
David Rutter, deputy CEO of electronic broking at ICAP, said: “ICAP is pleased to enter into this key strategic business partnership with GreTai, offering Taiwanese bond dealers local access to the world’s largest US Treasury liquidity pool. Supporting local markets in their efforts to access global trading opportunities is an important goal for ICAP. As financial markets develop, trading is increasingly shifting onshore to leverage local expertise.”
