ICAP to buy electronic currency broker for $775 million

04/21/2006 | Bloomberg · Financial Times (free content) · Reuters

ICAP Plc, the largest broker of interbank transactions in the world, will buy electronic currency trading system EBS for $775 million. EBS, which is owned by a coalition of 13 banks, including Citigroup, HSBC and JP Morgan Chase, handles an average $120 billion of the $1.9 trillion of the world's daily currency trades, according to Bloomberg News.

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Bloomberg · Financial Times (free content) · Reuters

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