FCA approves Tullett Prebon acquisition of Icap's IGBB

Finalisation of the transaction remains contingent upon regulatory approval

Green light
Green light: Tullett Prebon acquired rival broker Icap's IGBB in November 2015 for $1.5 billion

Interdealer broker Tullett Prebon has received approval from the Financial Conduct Authority for the acquisition of Icap's global hybrid voice-broking and information business (IGBB), its board of directors announced on November 15.

Finalisation of the transaction remains contingent upon worldwide regulatory approval, but the broker is said to be confident the final stage of the process will happen before the end of the year.

"As notified previously, Tullett Prebon believes that while it remains

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