ICAP plc

ICAP (company)

ICAP plc is a U.K. based inter-dealer money broker, the largest in the world, carrying out transactions for financial institutions rather than private individuals. ICAP plc is headquartered in London, England, UK and operates from London, New York (Jersey City) and Tokyo with offices in a further 21 smaller financial centres such as Madrid and Sydney. The average daily transaction volume for ICAP plc exceeds $1 trillion, with an even split between paper and electronic transactions. ICAP is an abbreviation for Intercapital, a name by which the business was previously known.

History

The Company evolved from a merger between Garban plc and Intercapital plc which created Garban-Intercapital plc in 1999.

Intercapital plc was originally founded by Michael Spencer in 1986 as Intercapital Private Group Limited ('IPGL'); in 1998 it was acquired by Exco plc in a reverse takeover and the enlarged business was renamed Intercapital plc.

Garban plc was originally established in the 1970s as the financial services division of MAI plc. Several takeovers followed, starting in 1977 when MAI plc acquired Harlow, Meyer and Co. Mallon & Dorney and Garvin GuyButler were both acquired by 1982 and in 1983, Garban LLC was acquired giving MAI plc significant broking interests in the UK and overseas. In 1996, MAI plc was merged into United News & Media plc: its financial services division was then de-merged and listed on the London Stock Exchange in 1998 as Garban plc.

The Company changed its name from Garban-Intercapital plc to ICAP plc in 2001.

In 2007 the Company acquired Traiana, a post-trade transactions processing business.

Operations

ICAP trades in a number of areas, including derivatives, fixed income securities, money market products, foreign exchange, energy (such as gas and oil), credit and equity derivatives.

Christmas Fundraising

In December 2006 members of staff and celebrities (including Prince William) dressed as characters from the children's cult TV classic Rainbow to raise over 7 million GBP for charity. This year Twiggy and Myleene Klass will be leading the line in an attempt to break the 10 million barrier.