“Icor has always maintained that the market is ready for purely electronic trading,” said Jeff Larsen, chief executive of Icor Brokerage. “As word spreads from trader to trader, we are getting more clients, more installations and greater liquidity.”
The FX options platform was first launched in the Asia-Pacific region in January. This was followed in July by a European launch. Icor said over 25 banks are using the system in Asia-Pacific and more than 20 in Europe.
The trading system is based on the Reuters Dealing 3000 platform and features eight currency pairs.
Icor plans to launch an interest rate swaps trading capability in the US at the turn of the year.