Eletronic bond trading platform eSpeed is to provide front-end access to nine derivatives exchanges under a licensing deal with the UK's EasyScreen.
The agreement expands EasyScreen's distribution across eSpeed's global private network and gives authorised eSpeed users electronic access to a number of major derivatives exchanges, including Liffe, a/c/e, CME, ADX, SFE, SGX, Monep, Eurex and Matif.
The deal calls for eSpeed to connect its proprietary front-end platform to these derivatives exchanges in return for the payment of a one-off licensing fee, as well as annual maintenance and support fees. EasyScreen will also develop its front-end trading software to interface with the Cantor Exchange ('CX'), the US-based electronic futures exchanges set up as a joint venture between eSpeed and the New York Board of Trade.
Philip Docker, chairman of EasyScreen, comments: "Our agreement with eSpeed enables us to roll-out our Internet-based products much faster and is particularly significant because it will give EasyScreen exposure to eSpeed's established and expanding user-base and to the Cantor Exchange."
The deal also grants eSpeed five-year warrants on one million EasyScreen shares.