News

ICAP invests in Duco

London – 18 January, 2012 – Euclid Opportunities, ICAP’s early stage financial technology project, today announced the completion of an investment in London-based software firm Model Two Zero (update – now known as Duco).

Model Two Zero is an early-stage company pioneering the next generation of innovative matching, reconciliation and data-translation technologies. A growing number of Model Two Zero clients are now using this technology to validate efficiently, enrich and reconcile volumes of complex trading and transactional data.

Christian Nentwich, CEO, Model Two Zero, said, “It is clear that our technology has the potential to lead to revolutionary improvements in post-trade business processes. Working with Euclid, ICAP and leading market participants now gives us the opportunity to build scale and solve the hard and persistent problems that still keep operations professionals awake at night.”

Steve Gibson, Managing Director, Euclid Opportunities said, “We are very pleased to support Model Two Zero in the next stage of their impressive story. This investment allows the company to develop further their market- leading technology to provide a valuable range of new reconciliation services in the post-trade arena”.

Mark Beeston, CEO, Portfolio Risk Services at ICAP, added, “Global regulatory initiatives are driving demand for a range of powerful and efficient reconciliation services across a number of business areas. This investment is another step as we continue to provide our clients with the industry’s best and most innovative post-trade services”.