ICAP plc (IAP.L), a leading markets operator and provider of
post trade risk mitigation and information services, announces
today that it has acquired ENSO Financial Analytics (ENSO), a
leading provider of a data analytics platform for hedge funds and
prime brokers.
The acquisition has been led by Euclid Opportunities, ICAP's
early-stage fintech investment incubator, founded by Steve Gibson
in 2011. Euclid made its first investment in ENSO in June 2013,
which was followed by a subsequent investment in October 2014 to
enable further growth of the business.
ENSO will become a subsidiary of ICAP’s Post Trade Risk and
Information (PTRI) division. ENSO founders Matthew Bernard, Michael
Gentile, and Dwaine Alleyne will continue in their leadership
positions with ENSO and will report to Jenny Knott, CEO PTRI.
ENSO provides powerful portfolio analytics to the hedge fund and
asset management industry. ENSO’s team of prime brokerage, asset
management, technology and data specialists deliver identifiable
and measurable operational insight on counterparty credit risk,
collateral management, and portfolio financing and treasury
functions. With more than $1 trillion in total assets under
advisory, ENSO provides operational insights and key analytics to
many of the world’s most successful fund managers.
Through Euclid Opportunities, ICAP has made a number of
early-stage financial technology investments and continues to grow
its portfolio, identifying emerging companies with new platforms,
business models and technologies that have the potential to drive
efficiency, transparency and scale across the post-transaction
lifecycle.
Since launch, Euclid Opportunities has invested in: Duco, a now
global provider of data control services; OpenGamma, an award
winning risk analytics platform; AcadiaSoft, an industry
collaboration to automate collateral management; Abide Financial, a
market-leading global regulatory reporting specialist; and Digital
Asset Holdings, a developer of Distributed Ledger Technology.
Michael Spencer, Group Chief Executive Officer, ICAP, said: “We
have been and continue to be impressed by ENSO, who have
demonstrated the ability to build a hedge fund client base to which
they have delivered an expanding and well-regarded product set. The
acquisition of ENSO demonstrates the Euclid model perfectly and
follows an initial investment from ICAP in 2013. I welcome the ENSO
team to the ICAP Group of companies. They will benefit from our
networks, our years of experience and our expertise in the markets
we serve. Together, we will have the opportunity to take the
business to the next stage of its growth.”
Jenny Knott, Chief Executive Officer, Post Trade Risk and
Information, said: “Our clients are seeking solutions to the
structural trends of regulation, electronification and
standardisation that are driving change throughout the industry. We
feel ENSO perfectly complements our existing post trade client
offerings and we are very excited about the synergies and many
opportunities we see to expand our products and analytics services
to the hedge fund and the buy side community.”
Matthew Bernard, Co-Founder of ENSO, said: “In today’s rapidly
changing financial and regulatory environment, the treasury and
portfolio financing functions within a hedge fund become paramount
roles. ICAP’s initial investments helped us expand in the US and
UK, while continuing to invest in new product generation. Being
part of the ICAP platform will propel our expansion and innovation
strategy even further.”
Michael Gentile, Co-Founder of ENSO, said: "ICAP has supported
ENSO from the beginning. They continue to encourage us to innovate
and execute on products that deliver value to our clients and for
the market. ICAP's culture and vision are tremendously aligned with
our own, and we look forward to the vast realm of possibilities
that lie ahead."
About ICAP
ICAP is a leading markets operator and provider of post trade
risk mitigation and information services. The Group matches buyers
and sellers in the wholesale markets in interest rates, credit,
commodities, FX, emerging markets and equity derivatives through
voice and electronic networks. Through its post trade risk
mitigation and information services ICAP helps customers manage and
mitigate risks in their portfolios. For more information go
to www.icap.com.
Through Euclid Opportunities, ICAP's early-stage fintech
investment business, ICAP supports innovative financial technology
firms in the areas of post trade risk management, data and
financial market applications. Euclid Opportunities forms part of
the post trade division of ICAP, which also comprises TriOptima,
Traiana, RESET and ICAP Information Services. Portfolio companies
include Duco, AcadiaSoft, ENSO Financial Analytics, OpenGamma,
Digital Asset Holdings and Abide Financial.
About ENSO Financial Analytics
ENSO Financial Analytics (ENSO) is a leading hedge fund service
provider offering clients the ability to use critical business
insights to become more competitive while strengthening their
broker relationships. ENSO’s suite of intuitive, data-driven tools
enhances risk and operational transparency and improves
transactional efficiency, allowing multi-prime hedge funds and
asset managers to optimize structural and variable costs. ENSO
captures data on more than $1 trillion in hedge fund assets under
advisory. ENSO is headquartered in New York with an office in
London.
For more information, please visit www.ensofinancial.com. Follow
ENSO on LinkedIn.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160414005139/en/
ICAP Enquiries:Serra Balls, +44 20 7050 7103ICAP Group
Head of CommunicationsorAlex Dee, +44 20 7050 7123ICAP Head of
Investor RelationsorCebuan Bliss, +44 20 7379 5151MaitlandorGina
Feghali, +1 212 909 4781IntermarketorENSO Enquiries:Aurora
Appel, +1 646 502 5468Marketing and Communications (US &
UK)aappel@ensofinancial.com
ICAP (LSE:IAP)
Historical Stock Chart
From Apr 2024 to May 2024
ICAP (LSE:IAP)
Historical Stock Chart
From May 2023 to May 2024