Bank cutbacks leave dent in Icap’s profits
POOR trading conditions hit profits again at Icap in 2013, the interdealer broker reported yesterday. Banks have cut back activity in areas such as bond trading, leaving the firm with lower volumes....
View ArticleIcap rejects antitrust accusations from EU over yen Libor rigging
INTERDEALER broker Icap has knocked back claims it breached EU competition rules amid ongoing allegations of Libor rigging. The group was responding to a complaint from the European Commission about...
View ArticleIcap shares sink as first-half profit tumbles
Shares in ICAP had sunk over nine per cent in mid-afternoon trade on Wednesday, making it one of the largest fallers on the FTSE 250.The group, which is one of the world's largest interdearler brokers,...
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Prince Harry and Cheryl ex-Cole hit the phones for Icap
While most of the City had its eyes glued to the Autumn Statement, Icap traders were slightly distracted by the likes of Cheryl Fernandez-Versini (ex- Cole, née Tweedy), Prince Harry, Dame Helen...
View ArticleICAP’s charity day competes with Osborne’s giveaways
ICAP’S Michael Spencer went head-to-head with the Autumn Statement for column inches yesterday – holding his annual charity day, with the likes of Cheryl Fernandez-Versini (pictured), Prince Harry,...
View ArticleICAP blends its bond trading and currency platforms
ICAP, the world's largest interdealer broker, has said it will combine its currency trading platform EBS and its bond trading platform BrokerTec.The group has been hit by lower market volatility levels...
View ArticleFirst Libor battle as Icap rejects EU’s €15m fine
Brokerage Icap has become the first City institution to challenge a fine for attempted Libor manipulation, yesterday vowing to battle the European Commission. The EC issued the firm with a €14.9m...
View ArticleIcap gets boost from central bank meddling
Icap's revenues fell in the third quarter, the interdealer broker said yesterday, but it did get a boost from the Bank of Japan and the Swiss National Bank’s policy changes. Revenues fell two per cent...
View ArticleIcap's revenue slumps seven despite choppy markets
The figures:The trading platform Icap said revenue was down seven per cent to £1.27bn in the year ending 31 March. Additionally pre-tax profit fell 21 per cent to £95m, down from £121m posted a year...
View ArticleICAP offloads voice-brokerage to Tullett Prebon
ICAP shares soared this morning, up 5.64 per cent in morning trading after announcing it would sell its global voice-broking and information business to rival Tullett Prebon. The sale redeemed the...
View ArticleNex shares slide despite Trumped-up earnings
Trumped-up earnings at Nex, the fancy new name of financial broker of Icap, were not enough to stop its share price from sliding over two per cent this morning. Group revenue was up 11 per cent in...
View ArticleTP Icap told to go back to the drawing board on exec pay plans
TP Icap's investors have rebuffed an executive pay plan which could have lead to senior executives taking home tens of millions. The newly-merged broker's reward plans would have paid up to £85m in...
View ArticleTP Icap: Brexit means we'll move operations out of the UK to the EU
TP Icap said today it will move client relationships out of the UK as a result of Britain's decision to leave the EU. The broker revealed the plans as it posted better than expected annual results,...
View ArticleWorld's largest interdealer broker TP Icap grabs rival Coex Partners
Brokerage giant TP Icap, which was formed just last year in a £1.28bn deal, has hoovered up smaller Marylebone-based rival Coex Partners. TP Icap has paid an initial £7.1m for the firm, although this...
View ArticleLondon Stock Exchange applies for Dutch trading licence in Brexit move
The London Stock Exchange (LSE) has confirmed that it has applied for several trading licences in the Netherlands as a contingency against a hard Brexit. The LSE said in a statement: “As part of...
View ArticleTP ICap shares sink more than 30 per cent as it parts ways with boss
Shares in the world's largest interdealer broker TP Icap sunk more than 30 per cent this morning, after the company said it had parted ways with its chief executive, and warned earnings would come in...
View ArticleBrokerage giant unveils new City home in major HQ move
The world’s largest interdealer broker has revealed plans this morning to move into a major new City headquarters in Broadgate, in an effort to house all of its brokers under one roof following the...
View ArticleLondon's status as a tech hub helping drive transatlantic deals
London's status as a hub for technology and financial services is helping drive a strong flow of deals between the US and the UK according to audit firm Deloitte. Deloitte said deal volumes between the...
View ArticleTP Icap in advanced talks to buy US broker Axiom Commodity Group
TP Icap is in talks to buy US energy broker Axiom Commodities Group, with a multi-million pound deal expected to be signed as soon as this week. The news that TP Icap is to acquire its smaller rival...
View ArticleCity broker TP ICAP lines up Man Group director as new chairman
Man Group director Richard Berliand is close to joining interdealer broker TP ICAP as the company's new chairman as it looks to regain investors' trust following the chief executive's ousting. Berliand...
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