London’s status as a tech hub helping drive transatlantic deals October 11, 2018 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 UK and US “remained buoyant” in the first half of 2018, with 238 completed deals in the period. There were 152 [...]
Brokerage giant TP ICAP unveils new City headquarters in Broadgate September 26, 2018 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 firm’s merger in 2016. TP ICAP will take up four floors of 135 Bishopsgate in a leasing that will see [...]
Icap’s revenue slumps seven per cent to £1.27bn despite increasingly choppy markets May 19, 2015 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 earlier. Why it's interesting: While the London-based firm didn't manage to achieve full-year growth it was helped by increased market volatility due to the [...]
Icap gets boost from central bank meddling February 10, 2015 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 on the year, led by an eight per cent dive in incomes from the Global Broking unit. As a result that arm [...]
First Libor rate-fixing battle as Icap rejects EU’s €15m fine February 4, 2015 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 (£11.2m) fine, arguing that Icap broke competition rules “by facilitating several cartels in the sector of yen interest rate derivatives.” Icap was fined £54m in [...]
ICAP merges its currency and bond trading platforms December 4, 2014 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 and increased regulation since the 2008 financial crisis, scuppering the flow of business from its banking clients in recent times. It now wants to [...]
ICAP’s charity day competes with Osborne’s giveaways December 3, 2014 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, Damian Lewis, Lord Jeffrey Archer and Dame Helen Mirren all helping to raise money by making trades. The inter-dealer broker is supporting around 200 charities globally and [...]
Prince Harry, Cheryl ex-Cole, Helen Mirren, Simon Cowell and Dermot O’Leary hit the phones for Icap charity drive December 3, 2014 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 Mirren, Simon Cowell and most of the cast of The Only Way Is Essex – who were all in helping to raise money [...]
Icap share price sinks over nine per cent as first-half profit tumbles on rising investment and light trading November 19, 2014 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, said profit before tax for the six months to September was £86m, down from £139m pounds a year earlier. [...]
Icap rejects antitrust accusations from EU over yen Libor rigging June 10, 2014 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 its alleged role in yen rate-rigging, which led to fines for several banks last year. “The commission has concerns that Icap may have been involved [...]