Tullett Prebon bets on OTC broking with Icap buy

Combined hybrid broking business will be world's largest

merger-jigsaw

Tullett Prebon has agreed to acquire rival broker Icap's global hybrid voice-broking and information business (IGBB), saying the future of over-the-counter interdealer brokers is secure despite the current challenges and ongoing consolidation trend in the sector.

The deal, which includes Icap's associated technology and broking platforms such as iSwap and Fusion, comes amid declining volumes in the wider voice-broking world. In foreign exchange, Tullett Prebon will benefit from IGBB's strong

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