Acquisition

4th Dec 2007 07:01

ICAP PLC04 December 2007 ICAP completes acquisition of Traiana, Inc London and New York, 4 December, 2007 - ICAP plc (IAP.L), the world's premierinterdealer broker, has completed the acquisition of Traiana, Inc, the leadingprovider of automated post-trade processing services to financial institutions. The acquisition, first announced in October 2007, marks a further expansion forICAP into the post trade processing business, following the very successfulinvestments in TriOptima in 2001 and Reset in 2006. Post trade services is anarea where technology innovation is creating exciting new business opportunitiesfor ICAP and is an increasingly competitive necessity in growing market share inthe interdealer broking business. Traiana's business model is driven by the growth in the number of trades as eachtrade triggers multiple post trade events and Traiana charges for each event.Traiana has been very successful in operating as a neutral platform in theforeign exchange market and enjoys a great partnership with all the marketparticipants, including ICAP's EBS system. Traiana is committed to continuing towork closely with them all to support their businesses. The consideration for 100% of the share capital of Traiana is US$238 millionpayable in cash and $9 million of ICAP shares that will vest within four years.The acquisition of Traiana will be initially financed using a new acquisitionfacility on similar terms to ICAP's existing £350 million facility. Contacts: Michael Spencer Group Chief Executive (44) 20 7050 7400Mike Sheard Director of Corporate Affairs (44) 20 7050 7103Neil Bennett Maitland (44) 20 7379 5151Michael Laven Chief Operating Officer, Traiana (1) 212 404 1714 About ICAP plc ICAP is the world's premier voice and electronic interdealer broker and thesource of global market information and commentary for professionals in theinternational financial markets. The Group is active in the wholesale markets ininterest rates, credit, commodities, foreign exchange and equity derivatives.ICAP has an average daily transaction volume in excess of $1.5 trillion, morethan 50 percent of which is electronic. ICAP plc was added to the FTSE 100 Indexon 30 June 2006. For more information go to www.icap.com About Traiana, Inc. Traiana provides global banks, broker/dealers, buy-side firms and e-tradingplatforms with straight through processing automation for post trade processesin the OTC markets. Traiana's Harmony network is used by over 50 of the world'sleading financial market participants and has become the market standard forpost-trade processing of foreign exchange transactions. The company has expandedits product offering beyond foreign exchange into other asset classes includingprecious metals and credit derivatives. Traiana's solutions help to improverelationships between trading partners, reduce operational risk, and to lowercosts. Traiana is headquartered in New York City with offices in London and TelAviv. This information is provided by RNS The company news service from the London Stock Exchange

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