Icap to broker base metals on the LME
Interdealer broker Icap has launched a London Metals Exchange (LME) base metals broking business.
Former Bear Stearns joint global heads of metals - Robert Rees and Steve Bingley - have been hired by Icap to lead the firm’s business at the LME. The new recruits will report to deputy chief executive officer of Icap Gary Smith.
“Base metals represent an exciting opportunity for ICAP,” says Smith. “With this experienced team, we are well positioned to benefit from the increased importance of the base metals marketplace as global demand for resources continues to grow.”
The LME’s trading volumes
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