ICAP's EBS buys funds-focussed Molten Markets

Mon Oct 5, 2015 4:23am EDT
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LONDON Oct 5 (Reuters) - ICAP-owned trading platform EBS took another step into the asset management sector with the announcement on Monday it had purchased Molten Markets, a specialist in foreign exchange trading technology for funds and other investment managers.

The company gave no value for the deal, which adds to the efforts EBS has made over the past three years to build on its traditional stronghold in interbank foreign exchange trade.

ICAP said Simon Wilson-Taylor, current President and CEO of Molten Markets, was joining EBS BrokerTec in New York as Head of EBS Institutional FX as part of the deal. (Reporting by Patrick Graham; editing by Anirban Nag)