ICAP
is the world’s largest voice and
electronic interdealer broker with a
daily average transaction volume in excess
of $1 trillion, 50% of which is electronic.
The Group is active in the wholesale
market for OTC derivatives, fixed income
securities, money market products, foreign
exchange, energy, credit and equity derivatives.
ICAP
provides a specialist intermediary
broking services to commercial banks
and investment banks in the wholesale
financial markets. An interdealer broker
works in these markets to draw together
liquidity and to match buyers and sellers
so that deals can executed by its banking
customers. Banks pay a commission when
they use a broker to complete a deal.
ICAP
offers banks significant economies
of scale in price discovery by having
a number of staff covering each product
and in constant contact with a range
of counterparties. Access to
a broker therefore allows a bank to
increase market coverage in busy times
without incurring additional overheads. In
many markets ICAP operates as an agent
or matched principal broker providing
banks with the opportunity to deal
anonymously through a neutral party
at the most attractive price available
ICAP
has created a powerful combination: the
world’s largest voice and electronic
interdealer broker. There is
growing demand for electronic broking
of liquid products, which is totally
complementary to voice broking of more
bespoke, less liquid products. The
majority of the markets in which ICAP
operates rely on, and will continue
to rely on, voice broking and in most
markets combines voice and/or electronic
access to a common pool of liquidity. This
hybrid solution provides customers
with both voice support and electronic
execution. |
