Deposits/Certificates of Deposit

A deposit is an amount of unsecured money placed with a bank for a specified time at an agreed fixed rate of interest. Banks post rates at which they are willing to take deposits from and make placements to credit worthy counterparties. Deposits are made for specific periods – eg. overnight, ‘tom-next’, ‘spot-next’, 1-week, 1-month, 6-month, 12-month – and for ‘broken’ dates. Deposits are repaid together with accrued interest on maturity date.

A Certificate of Deposit (CD) is a negotiable coupon bearing security issued by a bank, replicating an interest - bearing time deposit of fixed maturity with the flexibility and potential of secondary market trading. Maturities range from short dates to five years.

ICAP provides a full service in money market deposits as well as primary issues and secondary market traded CDs covering all currencies.

 

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