Icap looks at outsourcing

05 Jul 2004

Icap has been visiting FCMs in Chicago to discuss possible outsourcing deals, according to market sources. The firm is believed to be exploring the possibility of outsourcing the back office processing of its forthcoming futures arm.Icap executives said they are on target with their plans to open a US Futures Commission Merchant (FCM) operation in...

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“The fact is, an awful lot of people would be very happy for all business to be transacted over the counter. Transparency is good for the consumer, but privacy is better for the banks and the brokers. Wherever there’s a grey area, it’s possible to make money.”

European consultants predict frantic lobbying during the Mifid review.