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Icap hopes for gain from US swap clampdown


Icap, the world’s largest interdealer broker, enjoyed an 8% year-on-year rise in revenues in its second quarter. In the period April-June, the group’s profit grew by 5%. The firm says it is anticipating an upswing in demand from the introduction of electronic broking in parts of the interest rate derivatives markets this year....

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“The banks are investors too. I can’t favour investors with inside information – that’s basically what this is.”

TAM's treasurer voices frustration with Brazil’s new derivatives registration initiative.