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ICAP is a leading broker of FX forwards, offering a full broking service for the widest range of currency pairs and full straight-through processing (STP) of both voice and electronic trades.

A forward foreign exchange transaction involves the purchase of one currency against the sale of another for delivery on an agreed date in the future.

ICAP offers a comprehensive broking service for the widest range of global currency forwards spanning developed and emerging markets.

We offer a full voice broking service on all the G7, local domestic and emerging market currencies, as well as a wide range of cash-settled non-deliverable forwards.

Forward FX transactions are primarily e-traded on i-Forwards, ICAP’s electronic trading platform. This enables ICAP to offer a hybrid model that combines the benefits of its electronic and voice broking services, giving customers improved execution choice and price discovery.

In addition, forward foreign exchange is tradable on ETC. This platform enables both hybrid trading and full straight-through processing (STP) and is deployed in over 100 banks throughout Europe, North America, and Asia.