News

Duco wins global reconciliation mandate at ICAP

London, 13 May 2014 – Duco, provider of the hosted, on-demand reconciliation service Duco Cube, today announced that it has won the global mandate to provide reconciliation services to ICAP, the leading markets operator and provider of post trade risk mitigation and information services.

The service has been live since March. ICAP is using Duco Cube to strengthen certain risk controls across the business, including, amongst others, audit checks in finance, trade and position reconciliations in brokerage operations, end of day exchange reconciliations as well as a variety of static data quality controls.

“ICAP adopting Duco Cube globally is a significant vote of confidence in our technology and business model. The sheer variety of controls ICAP are looking to strengthen very much plays towards the strengths of Duco Cube: on-demand, asset class agnostic and quick to roll out without technical assistance,” said Christian Nentwich, CEO, Duco.

“Duco Cube enables ICAP to further strengthen its controls and improve efficiency in mandatory regulatory functions, auditing and duty of care without the significant increase in technology spending that this would usually entail,” said Ken Pigaga, Group Chief Operating Office of ICAP.

For more information, please contact Patrick Thornton-Smith, Head of Sales and Marketing, on +44(0)20 3111 9294 or patrick.thornton-smith@du.co.

About Duco

Duco is a technology company dedicated to the financial services sector. Duco Cube is an intelligent hosted matching and reconciliation service that is agile and quick to deploy. Duco Cube provides the infrastructure to interrogate any data, across asset classes, with a game changing pricing structure.

More information at http://du.co

About ICAP

ICAP is a leading markets operator and provider of post trade risk mitigation and information services. Group companies provide services that match buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios.

For more information, please go to www.icap.com