TP ICAP, the interdealer broker, market operator and data provider, has taken a minority stake in the UK financial technology firm, ipushpull.
The Series A investment will reportedly be used to expand the ipushpull team, enhance connectivity of the ipushpull platform, and scale up its live data sharing and workflow automation capacity. TP ICAP says that its move is in anticipation of increasing client demand for bespoke APIs, chat-based connectivity, and semi-automated workflows. As part of the investment, Dan Wray, group chief information officer (CIO), TP ICAP, will join ipushpull’s board of directors.
TP ICAP already leverages ipushpull’s omni-channel delivery as part of its Fusion technology offering. It is integrated within Fusion, and the ipushpull platform provides clients with custom connectivity links to chat systems – such as Symphony, Teams, and Slack – and bespoke client API and Excel-based integrations.
ipushpull’s functionality has already been rolled out in TP ICAP’s options and equities businesses and connects TP ICAP’s brokers to their clients for a variety of workflows. TP ICAP plans to extend the use of ipushpull to hundreds of clients across more asset classes throughout 2023.
Wray said, “ipushpull is a flexible, scalable solution that sits alongside Fusion’s existing FIX and STP solutions. This enables us to meet our clients’ needs for speed and greater automation. Our investment reflects both the confidence we have in our partnership with ipushpull and the progress we’re making in executing our strategy to transform our business through technology.”
Matthew Cheung, CEO, ipushpull, said, “We are delighted that TP ICAP joins ipushpull as a strategic investor and partner using our no-code platform to increase client engagement and accelerate delivery of live data and workflow into client applications of choice, such as chat, Excel and APIs.”
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