Tullett Prebon Receives FCA Approval for ICAP Deal

[kreslik.news]

Earlier this month, Finance Magnates revealed that Tullett Prebon, a UK interdealer broker, was expecting its deal to buy the global broking business of rival ICAP to be completed in the forthcoming weeks, after a lengthy process involving regulatory approval.

Tullett Prebon originally announced its plans to acquire ICAP’s voice broking and information business for over £1 billion ($1.67 billion) in November 2015, in which it would receive all of the associated technologies owned by ICAP including iSwap and Fusion, together with some of the company’s joint ventures and associates.

At the time, Chief Executive John Phizackerley commented that he “continued ... (read more)