The combined brokerage entity would handle two thirds of the US Sef market
Tullett Prebon’s acquisition
of rival interdealer broker Icap’s global broking
unit will see the new business become the dominant swap
execution facility (Sef) in the US, handling two thirds of the
interest swaps market.
According to September Sef market data by
the Futures Industry Association (FIA), the combined business
would have average daily trading of more than $230bn or 67% of
all the interest rate swaps market traded on Sefs.
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