TP Icap struggles to get systems back up and running after being hit by network outage

TP Icap, the world’s largest interdealer broker, is grappling to get its systems back up and running after being hit by a massive network outage.

The blackout hit Tullett Prebon, part of the wider TP Icap group, at 4.50pm yesterday evening.

In a short statement this morning the firm said:

As of 7am GMT today, significant progress has been made in diagnosing the problem and initiating recovery. It is a network outage and not a cyber-attack.

“The incident has impacted the customers across our Tullett Prebon businesses. However, substantially all of ICAP’s businesses remain unaffected.”

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The statement continued: “We have informed our regulators and our customers, and any transactions impacted by the outage have been identified and managed accordingly.

“The organisation is fully mobilised and working on this as a matter of urgency, and we will provide an update in due course, though we hope to have the issue resolved during the course of today.”

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