Interdealer brokerage giant Icap has beaten analyst expectations with an 18% rise in pre-tax profits to £98.2m in the six months to 30 September and said it expected to meet annual profit expectations.
According to the firm, revenues rose 12% to £444m with electronic trading growing significantly over the period.
In terms of specific derivatives activity the firm said, "Although yield curves have continued to flatten, interest rate markets have remained active, particularly in medium and longer term dollar...