Icap plans to sell its European oil desks to avoid investigation by the UK’s CMA
Brokers BGC Partners and Marex Spectron
are in advanced talks with Icap over buying two of their
rival's oil desks, a move that would satisfy the
UK’s competition regulator’s concerns
over the British inter-dealer broker’s merger with
The brokers are in talks over buying
Icap’s middle distillates and front line brent
broking desks, according to sources.
Marex's discussions with Icap over the
desks were "at an advanced stage," according to a source, while
another source described BGC’s talks with the
broker as "well-advanced".
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