NEW YORK; June 11, 2008 – ICAP plc, the world’s premier interdealer broker, has selected Accenture (NYSE: ACN) to develop and maintain its European Union credit-trading platform under a five-year application outsourcing agreement.
“This initiative is designed to increase the capabilities and cost-efficiencies of our credit-trading platform in order to continue to drive growth in an increasingly dynamic and evolving global marketplace,” said James Dawson, business manager, credit products at ICAP.
Accenture will provide technology development and outsourcing services to ICAP through its Global Delivery Network, which includes more than 50 delivery centers across five continents.
“The leading capital markets firms today are focused on achieving the right balance of cost-reduction, long-term operational excellence and opportunistic expansion,” said Lloyd Altman, a senior executive in Accenture’s Capital Markets practice. “This strategic outsourcing agreement reflects ICAP’s sharp global vision for growth and deep commitment to service excellence and shareholder value.”
Accenture is a global management consulting, technology services and outsourcing company. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. With 178,000 people in 49 countries, the company generated net revenues of US$19.70 billion for the fiscal year ended Aug. 31, 2007. Its home page is www.accenture.com.
ICAP is the world’s premier voice and electronic interdealer broker and the source of global market information and commentary for professionals in the international financial markets. The Group is active in the wholesale markets in interest rates, credit, commodities, foreign exchange and equity derivatives. ICAP has an average daily transaction volume in excess of $1.5 trillion, more than 60% of which is electronic. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com.