ICAP (company)

ICAP is a global financial companies from the UK, based in London and the world's largest inter-dealer broker ( IDB).

Background

With a daily transaction volume of 1.5 billion U.S. dollars, half of them via electronic trading systems, ICAP is by his own admission the world's largest broker. The Group offers its services primarily to professional market participants and is active in the markets for fixed income securities, OTC, money market, foreign exchange, energy, credit and equity derivatives. It has a strong presence in the three major financial centers of London, New York and Tokyo and a presence in 20 other financial centers.

History

ICAP was founded in 1999 by the merger of Garban plc and Inter Capital plc. In June 2006, ICAP took over the competitors Electronic Broking Services (EBS ) for $ 775 million U.S..

The company employs 3,465 people and generated consolidated sales in 2007 of £ 1,106 million. Its shares are listed on the FTSE 100. With a share of 21.13 % is Michael Spencer, founder of Inter Capital plc and current CEO, ICAPS largest shareholder.

In May 2009 it was announced that ICAP together with 10 investment banks is attempting the clearing house LCH.Clearnet to buy for around 813 million euros.

Because of its role in the LIBOR scandal, the company was sentenced to pay a fine of 87 million U.S. dollars because of the manipulation in key interest rates.

Weblink

  • Official website
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