China picks ICAP for $65 million technology deal

June 3, 2016 6:49 AM

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ICAP Plc said it had won a contract to provide technology for China's main fixed income and foreign exchange trading system, giving the British brokerage a major break in the world's second-largest economy.

ICAP, which agreed to merge its global hybrid voice broking business with Tullett Prebon Plc, said its electronic foreign exchange and fixed income business - EBS BrokerTec - would provide technology to China Foreign Exchange Trade System (CFETS).

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