BEIJING, Oct. 19 (Xinhua) -- Xinhua, China's state news agency, announced on Sunday it signed an agreement with financial data service provider ICAP to integrate the latter's global market data into the Xinhua 08 financial service platform.

Through the cooperation, Xinhua will be able to give its customers access to key ICAP real-time data such as the ICAP Global Currency Feed for foreign exchange, interest rate derivatives data and global fixed income benchmark data, among others.

Chinese yuan real-time market data from the China Foreign Exchange Trade System (CFETS)-ICAP broking operations in Shanghai will also be provided.

This covers information on U.S. dollar/yuan foreign exchange and forwards, in addition to yuan money markets, interest rate derivatives and fixed income products.

"This collaboration with ICAP is an important strategic step for Xinhua to build a unified, cross-markets financial information and trading platform," Zhang Bin, the agency's News and Information Center vice general director, said.

He pointed out the deal would also allow the expansion of key capital market information coverage to reach customers both at home and abroad through the Xinhua 08 product series.

Mark Benfield, ICAP Information Services -- Asia Pacific director, expressed his willingness to work with Xinhua and establish a key strategic business partnership in China.

"We look forward to working together with Xinhua on their long term business model as they continue to expand the Xinhua 08 products and services for their clients based in China and globally."

Xinhua 08 is a self-developed financial information service system of Xinhua News Agency. The platform provides real-time news, real-time financial, commodity and equity market data, historical prices, research tools, financial analysis models and trading facilities.

As a voice and electronic inter-dealer broker and global financial market information provider, the London-based ICAP is active in the wholesale markets in interest rates, credit, energy, foreign exchange and equity derivatives.

It has an average daily transaction volume in excess of 1.5 trillion U.S. dollars, more than 60 percent of which is electronic. ICAP Plc was added to the FTSE 100 Index on June 30, 2006.
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