Icap's Operating Profits Hit by Tech Integration


LONDON—Interdealer broker Icap reported a decline in its operating profits for the electronic trading division. The drop is explained by the firm running two different fixed-income trading platforms.

"The temporary effect of double running costs associated with the upgrading of our fixed-income platform has affected margins," Icap says in a statement. "This position will improve in the second half [of 2007] as synergies relating to the EBS acquisition come through."

The operating profits from the

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