Company Overview

NEX was ICAP’s electronic broking business that was spun out of the company after the hybrid/voice operation was taken over by Tullett Prebon in 2015. The company listed on the London Stock Exchange and remained independent until CME Group purchased NEX for US$5.5 Billion in November 2018 The strategy is to combine CME’s trading in listed foreign exchange and US Treasury fixed income futures and derivatives with NEX’s over-the-counter- cash market broking. The four electronic platforms operated by NEX are: •Brokertec: Fixed Income Feb 2020 Notional Average Daily Volumes US$190 Billion •EBS: Foreign Exchange Feb 2020 Notional Average Daily Volumes US$90 Billion •Traiana: Trade processing, settlements, credit risk & trade life cycle platform •Tri-Optima: Portfolio compression, reporting, risk, CCP risk & valuation platform CME will complete the migration of Brokertec and EBS to Globex by end of 2020

Type of business
Data Source
Electronic Trading

  Corporate Details

Date of UpdateUnknown
HeadquartersLondon, United Kingdom
Established2015 (Date spun out of ICAP)
Market Cap US$N/A
Revenue US$>600 Million (Est)
OwnershipPrivate: Chicago Mercantile Exchange Group
ManagementDirector: Richard Bodnum Director: Kathleen Cronin Director: William Knottenbelt

  Website Analysis

Alexa Rank2,605,901
TypeData Source
Client CaseElectronic Trading
CoverageUnited Kingdom, Argentina, Australia, Canada, China, France, Germany, Israel, Hong Kong, Japan, Singapore, Switzerland, Sweden, & United States
Asset ClassesUnknown
Compliance & RiskYES
Indices & BenchmarksYES
Reference DataYES
Economic DataUnknown

  Key Products & Services

Brokertec: Provides price discovery, and analytics for US Treasuries, European Government Bonds and European Repurchase Agreements EBS: FX and Money Market platform for price discovery and analytics. EBS Direct for liquidity consumers connect to liquidity providers for executable and request for stream prices. EBS Select offers a non-disclosed execution service, EBS Hedge spot FX pool for inter-bank counter-parties, and eFIX Matching Service a central market utility to reduce benchmark fixing risks Data: NEX provides real-time and historical pricing with analytics covering markets traded on NEX platforms FX, Money Markets, Fixed Income

  Business Potential

PresenceUnited Kingdom, Argentina, Australia, Canada, China, France, Germany, Israel, Hong Kong, Japan, Singapore, Switzerland, Sweden, & United States
MarketInstitutions Banks, Commercial Banks, Hedge Funds
CompetitionBGC Partners/Fenics, Bloomberg, MarketAxess, MTS, NASDAQ Trader, TP ICAP, Tradeweb, Tradition
AvailabilityDirect from CME, NEX & Market Data Vendors
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