Bank cutbacks leave dent in Icap’s profits May 14, 2014 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. Trading profits fell four per cent to £272m in the year, as revenues dipped by five per cent to £1.4bn. The broker blamed [...]
ICAP revenue falls as market activity slows April 1, 2014 UK broker ICAP has announced a fall in revenue for February and March of 14 per cent. Despite the fall in revenue the company believes it will achieve results in line with market expectations, which range from £266m to £280m. The consensus is £273m. ICAP saw declines in overall trading activity levels in the Global [...]
ICAP loses role collecting data for swaps benchmark ISDAfix January 27, 2014 UK BROKER ICAP is losing its role in establishing ISDAfix, a widely used benchmark for derivatives, with Thomson Reuters set to take on the job of collecting data for the US dollar rates. The International Swaps and Derivatives Association (ISDA) announced the change yesterday, in another blow for ICAP after its involvement in the Libor [...]
Broker ICAP’s profits slashed by Libor fine November 13, 2013 PROFITS at ICAP fell by more than 40 per cent in the first half of the year, the broker reported yesterday, thanks to a £54m Libor fine. Pre-tax profit came in at £40m, down from £68m in the same six-month period of last year. But the underlying picture was stronger – operating profits increased six [...]