Latest NEX Group News: Finextra Research

Icap shares slump on profit warning; announces acquisition of TriOptima

Shares in Icap slumped Friday morning as the company cut its forecasts and warned that new businesses are struggling to attain profitability. The UK interdealer broker also announced an agreement to acquire the outstanding shares in Swedish post-trade fintech venture TriOptima for an initial EUR109 million in cash.

05 February 2010

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BM&FBovespa hires Cathryn Lyall to lead new London office

Brazil's BM&FBovespa has hired former Icap executive Cathryn Lyall to head up its new London office, from where the exchange plans to build up a presence in Europe, the Middle East and Africa.

27 January 2010

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Icap pays $25 million SEC penalty to cover fake trading charges

Interdealer broker Icap is to pay $25 million in settlement to the US Securities and Exchange Commission over charges that it displayed fake trades on its screens to encourage customer dealing.

21 December 2009

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Icap hires Beeston to spearhead post-trade expansion

In line with its ambitions to expand into the trade processing arena, interdealer broker Icap has appointed Mark Beeston to the newly-created post of business development director for post-trade services.

16 November 2009

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Three more banks join CLS/Icap FX joint venture

Bank of America, Credit Suisse and Morgan Stanley have joined four other founder banks in supporting the CLS/Icap joint venture to provide trade aggregation services in the over-the-counter FX market.

27 July 2009

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LCH.Clearnet rebuff's Icap-led takeover approach - Reuters

LCH.Clearnet last month rejected a takeover offer from an Icap-led consortium due to concerns about the business plan, according to a report from Reuters citing "two people familiar with the matter".

15 July 2009

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LCH.Clearnet looks to deal with bidding consortium

LCH.Clearnet has responded to last week's EUR830 million offer from a consortium of banks and Icap by indicating its willingness to interweave elements of the bid with its own restructuring plans. Meanwhile, the clearing house is also set to restructure its technology platform in a bid to save millions of euros a year.

13 May 2009

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Icap consortium makes EUR830m LCH.Clearnet bid - FT

A consortium of 11 banks and interdealer broker Icap has launched an EUR830 million bid for LCH.Clearnet just weeks after the Depository Trust and Clearing Corporation called off its pursuit of the London clearing house, according to the Financial Times.

11 May 2009

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DTCC calls off LCH.Clearnet merger

The Depository Trust and Clearing Corporation has called off its pursuit of LCH.Clearnet after the parties failed to reach agreement over a proposed transatlantic merger.

29 April 2009

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Icap and CLS set up FX post-trade joint venture

Interdealer broker Icap and FX risk reduction network CLS are to create a new joint venture company offering post-trade aggregation services to participants in the over-the-counter currency markets.

06 April 2009

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Icap abandons exchange project as Lyall exits

Interdealer broker Icap is to abandon plans to launch its own derivatives exchange following a business review which has led to the departure of chief operating officer for exchange projects Cathryn Lyall.

19 March 2009

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LSE pulls out of LCH.Clearnet consortium

The London Stock Exchange has pulled out of a consortium of banks led by inter-dealer broker Icap that is considering a takeover bid for LCH.Clearnet. The independent clearer says it has had extensive talks with the consortium but that it is still awaiting an offer.

13 March 2009

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