Icap

Icap extends use of Kalahari software

Inter-dealer broker Icap has extended its use of pricing software company Kalahari’s derivatives pricing system ‘Kace’ to its Singapore, Hong Kong and Sydney offices.

Cantor subsidiary files patent infringement suit

Interdealer-broker Cantor Fitzgerald’s trading technology subsidiary eSpeed has filed a patent infringement suit against electronic fixed-income trading platform BrokerTec, while separately a court case pertaining to alleged constructive dismissal…

Weather derivatives notional volumes fall by $100 million

The Weather Risk Management Association (WRMA), the international trade organisation of the weather derivatives industry, yesterday said that the notional value of weather derivatives contracts fell by $100 million from last year’s figures.

Icap shuts London weather desk

UK inter-dealer broker Icap has exited the European weather and environmental derivatives market, an Icap spokesman told RiskNews ' sister publication EPRM today. “The European markets for these products are not developing at a large enough rate to…

Icap thrives on market volatility

Icap, the largest inter-dealer broker of over-the-counter derivatives, has reported a 39% rise in profits to £123.7 million for the year ended March 31. The firm’s turnover rose 26% to £664.3 million as the firm thrived on market volatility, especially…

Icap to broker economic derivatives

Icap has agreed to broker the parimutuel auction-based economic derivatives jointly developed by Deutsche Bank and Goldman Sachs, the firms announced today. Icap will offer the full range of economic derivatives, including vanilla and digital options and…

TriOptima terminates €420 billion in rate swaps

The delayed first run of TriOptima’s swap tear-up service, TriReduce, eliminated 7,880 euro-denominated interest rate swaps with a notional value of €420 billion – or about a fifth of the notional value of the credit derivatives market.

Confusion over membership at WBOT continues

Dan Parker, chief executive of Atlanta-based Weather Board of Trade (WBOT), today told RiskNews that two institutions he originally named as charter members of the weather derivatives exchange never had such an agreement with the company.

Formation of WBOT blows off course

Atlanta-based Weather Board of Trade (WBOT) has missed its planned February 2003 launch date, and its viability has been called into a question by a number of market participants. The online weather derivatives exchange originally planned to launch in…

Energy Brokers Association adds three new members

The Washington DC-based Energy Brokers Association (EBA) yesterday admitted three new members and confirmed a series of first meetings with key associations within the US energy markets. The EBA was set up in November 2001 with the goal of co-ordinating…

Icap signs BrokerTec purchase agreement

UK inter-dealer broker Icap has reached an agreement to buy the electronic cash bond and repo trading business units of BrokerTec for up to £181 million. But the deal is still pending clearance by the US Department of Justice, which Icap expects will…

Icap sees 30% profits increase

Inter-dealer broker Icap has increased its interim pre-tax profits by 30% to £58.2 million, thanks to longer-term interest rate and credit volatility, the company reported.

Prebon builds bridge to SwapsWire

Institutional broker Prebon Yamane is going live this week with a system, developed in-house, that allows traders to have direct links to the SwapsWire online platform, according to officials at the firm, based in London. Swapswire, owned by a consortium…

Icap acquires APB Energy

Inter-dealer broker Icap has acquired APB Energy for an initial cash payment of $15.5 million. Further payments, which are contingent on the future earnings of the business, will be made over four years, Icap said. APB brokers gas, electricity, weather…

Icap retains Washington lobbyists

UK inter-dealer broker Icap has retained the services of a professional lobbying company in Washington to combat negative political sentiment and ensure the broker’s interests are fully represented on Capitol Hill.

Moneyline Telerate removes Tullett swaps data

Moneyline Telerate, the provider of real-time capital markets information, is removing Tullett & Tokyo Liberty’s benchmark US dollar rate swaps information from its treasury and swaps information service - known as page 19901 - on September 20, according…

Icap signs letter of intent to buy out APB

The world’s largest inter-dealer broker, Icap, has entered preliminary agreement to buy out privately owned Kentucky-based energy broker APB Energy. APB brokers gas, electricity, weather and coal derivatives on its online platform, True Quote, and…

Icap, Reuters sell their stakes in Blackbird

UK inter-dealer broker Icap and information company Reuters have sold their minority stakes in Charlotte, North Carolina-based electronic inter-dealer broker Blackbird. The development effectively ends 18 months of bitter dispute between Icap and…

Icap to broke e-forwards

Inter-dealer broker Icap is launching a forwards FX electronic broking platform internally, said Donald McLumpha, director of the electronic brokering division for London and Europe. He added that the service could be rolled out to clients over the…

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