TP ICAP has been making significant progress in transitioning from traditional voice broking to a more integrated electronic and voice broking model. The company’s multi-asset liquidity platform, Fusion, has been at the forefront of this evolution, especially since the launch of its FX options platform, FXOhub in 2020. Since the platform's inception, TP ICAP has seen an impressive increase in volumes and market share in FX options. From being ranked fourth or fifth, the firm has climbed to a consistent second place, occasionally securing the top spot.
TP ICAP continues to enhance client experience through constant innovation in the platform's functionality. One of the key upgrades focused on streamlining the trade confirmation process, which historically involved three distinct steps: brokers would first arrange trades on FXOhub, negotiate trade details via voice, and then manually input the agreed information into the deal management system. This process was time-consuming, often leading to delays in delivering trade confirmations to counterparties.
To address this, TP ICAP developed a custom interface within FXOhub that automates the capture of trade details.