GFI, Icap Enter OTC Clearing Deal

- WatersTechnology Staff
- 08 Jan 2007

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NEW YORK—GFI Group and Icap are joining forces to provide clearing services for over-the-counter (OTC) derivatives with The Clearing Corporation. As part of the deal, both inter-dealer brokers will take a minority stake in the Chicago-based Clearing Corp., which provides clearing services for derivatives products.

Some of the details of the transaction have yet to be hammered out, but executives from Clearing Corp. say technology issues will not be a major concern.

"Integration is very

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