A spate of takeover deals highlights an industry craving innovation
It is not secret that pressure on firms has been building
for years now, generated partly by regulators seeking to right
the wrongs of the financial crisis and central banks who have
kept lending rates low which has killed the markets.
Inter-dealer brokers, who have traditionally made their
money in the over-the-counter markets that have been the main
target of the regulators, have felt the pinch more than
Michael Spencer, the group chief executive of Icap, the
world’s largest inter-dealer broker, has been
predicting consolidation in the sector for a while and he is
rarely wrong about a market which he pretty-much invented.
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