London Stock Exchange welcomes TP ICAP plc

TP ICAP, the world’s largest interdealer broker, celebrated its first full week of trading under the new ticker TCAP by opening the market on Monday, 9th January. TP ICAP was established following Tullett Prebon’s acquisition of ICAP’s global hybrid voice broking and information services business. As a pivotal player in the world’s financial, energy and commodities markets, TP ICAP provides comprehensive analysis of market conditions and long-term trends by combining data, knowledge and intelligence into contextual insight and commercial guidance. It operates via four core businesses: Tullett Prebon, ICAP, PVM and Mirexa Capital. Tracing its origins back to 1971, TP ICAP is a world leader, employing more than 3,400 highly skilled brokers, supported by more than 2,000 other staff. It operates in 31 countries and in every major commercial centre in the world, including London, New York, Singapore, Hong Kong, Frankfurt and Shanghai. Every working day, TP ICAP businesses conduct trades across Asia, Europe, the Middle East and the Americas, helping move anything from interest rate swaps to emerging economy government bonds, private equity fund investments, tankers of oil and precious metals. It does this solely on behalf of clients, with no proprietary interest in any trade.

The Chief Executive of TP ICAP, John Phizackerley, said:

“We are delighted to be here at the London Stock Exchange this morning to open trading. Through Tullett Prebon and ICAP we have had a long history of co-operation with the LSE, and as TP ICAP we look forward to many more years of trading on this market. The combination of Tullett Prebon and ICAP’s global hybrid voice broking and information services business was a transformative moment for the interdealer broker industry. With the acquisition now completed, we are now the world’s largest interdealer broker, playing an increasingly important role in world markets, with an opportunity to provide more value to our clients and deliver superior returns to our shareholders. I would like to thank everyone who has been involved in this transaction, especially our clients, colleagues and shareholders.”