‘There’s room for two’: reactions to Tullett/Icap deal

Hard work – and risks – facing voice specialist, say dealers and brokers

John Phizackerley
John Phizackerley, Tullett Prebon

"I continue to absolutely believe in the voice broking space and the central role it has at the heart of financial markets" – so said John Phizackerley, chief executive of Tullett Prebon on November 11, hours after the broker confirmed a widely rumoured buyout of rival Icap's voice business.

Phizackerley is putting his money where his mouth is. The £1.1 billion deal will see Tullett taking on nearly 1,500 of Icap's voice brokers at a time when volumes in many over-the-counter markets are

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