Tullett to acquire Icap’s Global Broking unit in a deal to complete next year
Consolidation among inter-dealer brokers
has been inevitable for some time, said Icap’s CEO
Wednesday, as the firm and rival brokerage Tullett Prebon
detailed plans for the latter’s acquisition of
Icap’s hybrid voice and data business.
Michael Spencer, group chief executive
officer of Icap, said on a media call after the
companies confirmed the deal early Wednesday,
consolidation in the interdealer broker space has been driven
by regulatory and capital requirements.
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