TP ICAP sharpens elbows between banks and e-traders

摘要

Interdealer broking revenues have been battered by regulation and a shift away from voice trading post-crisis, but newly-merged TP ICAP is betting its services are still vital as liquidity dries up in fixed income. Tullett Prebon completed the acquisition of long-term rival ICAP's global hybrid broking operations and started trading as TP ICAP on December 30.