Upon completion the ICAP Group will begin to trade as NEX Group plc, a focused electronic and post trade group with a leading portfolio of financial market infrastructure businesses and products. We offer broking services for a wide range of asset classes, including Equities, Credit, FX, Rates and Insurance Derivatives. Product areas include: Fixed Income Securities and their.
Primarily operating as an intermediary in the wholesale financial and energy sectors, Tullett Prebon facilitates the trading activities of its clients, in particular commercial and investment banks. TP ICAP group operates globally, with offices in 28 countries serving clients in all the major financial centres and cities. The proposed Transaction remains on track to complete later this year. Operating through our core businesses, Tullett Prebon, ICAP, PVM, Coex Partners, Tullett Prebon Information, ICAP Information Services and PVM Data Services, we create strong networks in person and through technology. Tullett Prebon, part of TP ICAP group, is one of the worlds leading interdealer brokers. ICAP is confident that clearance from the CMA will be obtained and, together with Tullett Prebon, is in the process of obtaining the necessary remaining regulatory and competition approvals from relevant authorities.
BUSINESS WIRE – London – ICAP plc (IAP.L), a leading markets operator and provider of post trade risk and information services, notes the statement today from the Competition and Markets Authority (“CMA”) announcing that the proposed Transaction to dispose of ICAP’s global hybrid voice broking and information business to Tullett Prebon plc is being referred for a phase 2 investigation solely as a result of potential concerns in respect of the voice/hybrid broking of oil products unless suitable remedies are offered.
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