What ILS Brokers does

ILS Brokers is a Tel Aviv-based interdealer voice brokerage house founded in 2001 that intermediates financial transactions among banks, with a single-product focus on Israeli Shekel-related instruments. The firm operates across FX-Spot (USD/ILS), FX-Options (Vanilla, Strategies, and Exotics), Interest Rate Derivatives (Shekel IRS, FRA, Basis swaps, XCCY swaps), FX Swaps, CPI-linked instruments, Fixed Income, and Bonds, delivering price quotes, execution, straight-through-processing, and clearing/settlement services. It self-positions as the leading broker in ILS Options and as one of two most active brokers in the USD/ILS Spot market, serving both local Israeli banks and international tier-1 and tier-2 banks including Citi, HSBC, Goldman Sachs, JP Morgan, Merrill Lynch, and Morgan Stanley.

The firm's revenue model is transaction-fee-based: ILS Brokers earns fees or spreads on each matched trade while client funds flow directly between counterparties, with no principal balance sheet risk assumed. It has been regulated by the US National Futures Association as an Introducing Broker since March 2015, providing regulatory credibility for US-regulated bank counterparties. Distribution is entirely direct and relationship-driven, with services delivered via telephone and direct communication to bank trading desks rather than through electronic platforms or marketing channels, and the firm carries no app, API, or SDK surface.

ILS Brokers is now a subsidiary of Marex, a multinational financial services group; its website redirects to marex.com and the firm operates under the Marex umbrella while retaining its Tel Aviv headquarters and Shekel-specialist franchise. Founder Shy Datika, CEO Guy Leshem, and COO & General Counsel Liat Feldman lead the firm, which has between 11 and 50 employees.

Name

ILS Brokers

Legal name

ILS Brokers LTD

Website

https://ilsbrokers.com

Company type

Private

Founded year

2001

Operating status

Acquired

Headcount range

11–50 employees

Short description

ILS Brokers is a Tel Aviv-based voice interdealer broker founded in 2001 that intermediates Israeli Shekel financial transactions — including FX-Spot, FX-Options, interest rate derivatives, FX Swaps, CPI, and Fixed Income — for local Israeli banks and global tier-1 and tier-2 bank counterparties. Now a subsidiary of Marex.

Ownership category

akta.pro rank

Product category

Interdealer Financial Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Institutional Brokerage & Agency Execution (FSAEACAC)

Keywords

• Interdealer brokerage
• Voice brokerage services
• Israeli Shekel trading
• FX spot brokerage
• OTC derivatives brokerage

Headquarters

HQ city

Tel Aviv

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure

Revenue model

1. Brokerage Transaction Fees: ILS Brokers earns revenue by brokering financial transactions among banks, facilitating deals in FX-Spot, FX-SWAP, Fixed Income, FRAS/IRS, CPI, and FX-Options. The company acts as an intermediary, earning fees or spreads on transactions. Clients' funds are not received or deposited by ILSB; clearing and settlement occurs directly between the parties.

Go-to-market motion1 record

Distribution channels1 record

Core offering

ILS Brokers is a multinational Israeli brokerage house that provides voice brokerage services for Israeli Shekel-related financial products. The company intermediates OTC trading among banks, facilitating deals in FX-Spot (USD/ILS), FX-SWAP, Fixed Income, FRAS/IRS, CPI, and FX-Options. Services include price quotes, execution, straight-through-processing, clearing and settlement, with client funds passing directly between arranged parties rather than through ILSB.

Product overview

ILS Brokers is a multinational Israeli brokerage house offering a unified suite of voice brokerage services focused on Israeli Shekel financial products. The portfolio comprises FX-Spot (USD/ILS), FX-Options (Vanilla, Strategies, and Exotics), Interest Rate Derivatives (Shekel IRS, FRA, Basis swaps, XCCY swaps), and FX Swap/CPI/Fixed Income services—all coordinated through a single voice brokerage operation that also handles straight-through-processing, clearing, and settlement for bonds. ILSB positions itself as the leading broker in ILS Options and among the two most active brokers in USD/ILS Spot.

Differentiator

Problem solved

Functional benefit

Products and services

• FX-Spot Brokerage Voice brokerage service for foreign exchange spot trading in the USD/ILS currency pair, providing price quotes and execution for bank counterparties.
• FX-Options Brokerage Voice brokerage services for Israeli Shekel options covering Vanilla, Strategies, and Exotics, where ILS Brokers is the recognized leading broker in the market.
• Interest Rate Derivatives Brokerage Voice brokerage for Shekel interest rate derivatives including IRS (Interest Rate Swaps), FRA (Forward Rate Agreements), Basis swaps, and XCCY (cross-currency) swaps.
• FX Swap, CPI and Fixed Income Brokerage Voice brokerage services covering FX swaps, CPI-linked instruments, and fixed income products across all the largest banks in the Israeli Shekel market.
• Bonds Brokerage Voice brokerage services for bond transactions including price quotes, execution, straight-through-processing, clearing, and settlement between arranged parties.

Named customers6 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• MarexcoreOthersILS Brokers is now part of Marex, a multinational financial services firm. The acquisition brings ILS Brokers' expertise in Israeli Shekel brokerage under the Marex umbrella, expanding Marex's capabilities in this market segment.

Scale indicators2 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• GFI Group (now part of BGC): Interdealer broker historically focused on rates, credit, and FX voice brokerage before acquisition by BGC Group. Operates the same institutional voice-intermediation model as ILS Brokers.
• BGC Group: Major interdealer broker (formerly BGC Partners) covering rates, FX, credit, and equities with both voice and Fenics electronic platforms. Closest direct competitor in the institutional voice-brokerage model that ILS Brokers operates.
• Tullet Prebon (now TP ICAP): Pre-acquisition competitor in voice brokerage across rates, FX, and credit markets. Same institutional intermediation model as ILS Brokers with broader geographic and product coverage.
• TP ICAP: Global interdealer broker operating across rates, FX, credit, and commodities with voice and hybrid electronic platforms. Directly comparable as a multi-product institutional voice broker, though TP ICAP operates at far greater scale and product breadth.
• ICAP (now NEX / part of Cboe): Formerly the world's largest interdealer broker before its EBS FX platform was sold to Cboe. Highly comparable as a former peer in voice brokerage for FX and rates markets.
• Compagnie Financière Tradition: Swiss-based interdealer broker with strong presence in emerging-market and niche currency pairs. Highly comparable given its focus on less-liquid currencies where voice intermediation retains value, mirroring ILS Brokers' specialization in Shekel.

Broad incumbents

• Marex: Multinational commodity and financial services firm that acquired ILS Brokers. Comparable as the parent entity operating across commodities, FX, and listed derivatives with both voice and electronic execution capabilities.
• EBS (NEX, owned by CME Group): Electronic FX trading platform owned by CME Group, central to interbank FX liquidity. Adjacent competitor and infrastructure layer that ILS Brokers' voice franchise partially relies on or competes with.
• Refinitiv (LSEG): Operates FXall and Matching electronic FX trading venues that compete with voice brokers for institutional flow. Relevant as the dominant electronic-platform infrastructure in ILS and broader FX.

Others

• CLS Bank: FX settlement infrastructure that handles clearing and settlement for FX transactions including ILS. ILS Brokers notes that clearing and settlement happens directly between counterparties, but CLS is a structural enabler of the FX market the company serves.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ilsbrokers

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ILS Brokers