Icap’s deal with Tullett Prebon could complete as early as this summer
The chief executive of interdealer broker
Icap’s Global Broking unit said voice broking
remains an integral part of the firm’s operations,
stating that it is "inextricably woven" into the modern trading
landscape, as the firm continues to work on its deal with rival
broker Tullett Prebon.
"Most markets will have a voice element
for a long, long time," David Casterton, chief executive
officer of the Global Broking division at Icap, told FOW.
"It is inextricably woven into the trading
landscape for so many products. Electronic trading is designed
for very high throughput, and that is seen by a specific type
of trade; there is certainly a strong future ahead for voice
broking," he added.
The backing comes as the firm and rival
broker Tullett Prebon continue to work on their landmark merger
of their respective voice broking and associated tech and
broking platforms, which could complete as early as this
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