Tullett-Icap Voice Broking Merger Will Drive New Data Products, Indexes
Though details are yet to be confirmed, officials say the combined data group can build new indexes and products that respond to regulatory needs.
Last week, the brokers announced a deal worth £1.1 billion ($1.68 billion) that─pending regulatory approval─will see Tullett Prebon acquire Icap's global hybrid voice broking and related data business, including associated technology and broking platforms such as over-the-counter interest rate derivatives electronic trading platform i-Swap, while Icap will take a 19.9 percent minority stake in Tullett Prebon through the issue of 310 million new shares.
In an official statement, Tullett Prebon
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