TP ICAP Group plc is a financial services firm headquartered in London, United Kingdom. Its stock is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The company was founded by Derek Tullett in 1971 as a foreign exchange broker trading as Tullett & Riley.[4] During the 1970s and 1980s it opened a number of overseas offices and started its own computer graphical analysis company of financial futures, options and FX rates (Futrend Ltd). In 1999 the Company merged with Liberty Brokerage to create Tullett Liberty.[4]
In early 2003, the company was bought by Collins Stewart plc, a financial services company, creating Collins Stewart Tullett plc.[4] In October 2004, the company acquired Prebon Yamane, a broking business formed in 1990 following the merger of three leading London-based money broking businesses (Babcock & Brown, Kirkland-Whittaker and Fulton Prebon)[4] and had adopted that name in acknowledgement of the firm's close business alliance with the Tokyo-based Yamane Group.[4] In December 2006, the group separated into two separate entities: Collins Stewart (stockbroking) and Tullett Prebon (moneybroking).[5] The company acquired Chapdelaine, a US broker, in January 2007 and integrated the business into its existing operations.[6]
In September 2012, the company was asked to help the Financial Services Authority's investigation into malpractice across the City of London, with particular interest in the LIBOR interest rate fixing.[1] In 2014, Terry Smith, chief executive of Tullett Prebon PLC, left the London-based brokerage firm to work full-time at the privately owned asset-management firm that he started in 2010.[7] He was succeeded by John Phizackerley in September 2014. Phizackerley, who preferred to be called "Phiz", started out as a mining engineer with Anglo American and was a former Lehman Brothers and then Nomura executive.[8] In November 2015, the company agreed to terms with ICAP (now known as NEX Group) to acquire their global hybrid voice broking and information business.[9] Using the name of the acquired business the company changed its name from Tullett Prebon plc to TP ICAP plc on 30 December 2016.[10] On 10 July 2018, Nicolas Breteau was appointed as group chief executive officer of TP ICAP.[11]
On 24 March 2021, TP ICAP announced the completion of its acquisition of Liquidnet.[12]
In March 2022, the Financial Times reported that an activist investor and hedge fund, Phase 2 Partners, was urging the board to find a buyer for the company in order to unlock shareholder value.[13]
Operationsedit
Tullett Prebon: The company operates as an intermediary in wholesale financial markets. Many of its clients are commercial and investment banks. It operates in eight product areas: Volatility, Rates, Credit, Treasury, Non Banking, Energy, Equities and Property.[14] The company also has specialist trading desks including, for example, Insurance Linked Securities where it facilitates Catastrophe Bond secondary market trading and provides a broking service to arrange Primary and Private Market transactions. It also provides data information services for financial institutions, covering areas such as Solvency II risk data, Credit Default Swaps data and FX Options data.[15]
ICAP: The company trades in a number of areas, including interest rates, credit, credit derivatives, foreign exchange, interest rate swaps, intellectual property (patents, via ICAP Patent Brokerage), and equity derivatives.[16] It operates from London, New York and Tokyo with offices in a further 30 smaller financial centres such as Hong Kong, Madrid, Sydney and Singapore. The average daily transaction volume exceeds US$1.5 trillion.[17]
PVM Oil: This company covers over the counter broking of swaps, forwards and physical crude oil and refined products together with exchange broking of WTI, Brent and Gasoil futures contracts.[18]
^ abcde. tullettprebon.com. Archived from the original on 9 August 2008. Retrieved 3 April 2015.
^"Login". timesonline.co.uk. Retrieved 3 April 2015.
^Simon Kennedy. "Tullett Prebon profit halves, sees current market as ideal". MarketWatch. Retrieved 3 April 2015.
^Jenny Strasburg (3 June 2014). "Tullett Prebon CEO Plans to Leave Firm As Soon As This Month". WSJ. Retrieved 3 April 2015.
^"Tullett Prebon names Phizackerley as chief executive officer". Reuters UK. Retrieved 3 April 2015.
^"Tullett to Acquire ICAP's Global Hybrid Voice Broking Business". Bloomberg. Retrieved 2015-11-11.
^"Tullett Prebon Change Of Name To TP ICAP". Mondo Visione. Retrieved 3 January 2017.
^"Trading Update and Directorate Change". TP ICAP. Retrieved 10 July 2018.
^"ICAP plc to acquire Liquidnet for up to £537 million". Digital Market News. 9 October 2020.
^Stafford, Philip (2022-03-23). "US activist urges TP ICAP to sell". Financial Times. Retrieved 2022-04-26.
^. tullettprebon.com. Archived from the original on 15 September 2013. Retrieved 3 April 2015.
^"OTC Data - Financial Information Services - Tullett Prebon". tpinformation.com. Retrieved 3 April 2015.
^"ICAP plc 2007 Annual Report p2 ICAP and the OTC markets". Miranda.hemscott.com. Retrieved 18 April 2011.
^Madhumathi, R. (2012). Derivatives and Risk Management. Pearson. p. 57. ISBN978-8131759936.
^"Tullett Prebon snaps up PVM Oil". pvmoil.co.uk. Retrieved 9 May 2014.
^"World's largest interdealer broker TP Icap grabs rival Coex Partners". coexpartners.com. Retrieved 30 November 2017.
External linksedit
Official website
January 01, 1970
icap, group, financial, services, firm, headquartered, london, united, kingdom, stock, listed, london, stock, exchange, constituent, ftse, index, group, plccompany, typepublictraded, aslse, tcapftse, componentisingb00b1h0dz51, industrybankingfounded1971founder. TP ICAP Group plc is a financial services firm headquartered in London United Kingdom Its stock is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index TP ICAP Group plcCompany typePublicTraded asLSE TCAPFTSE 250 componentISINGB00B1H0DZ51 IndustryBankingFounded1971FounderDerek Tullett 1 HeadquartersLondon England UKKey peopleRichard Berliand Chairman Nicolas Breteau CEO Revenue 2 191 million 2023 2 Operating income 128 million 2023 2 Net income 76 million 2023 2 Number of employees5 300 2023 3 Websitetpicap wbr com wbr tpicap wbr Contents 1 History 2 Operations 3 References 4 External linksHistory edit nbsp Tullett Prebon s offices in Bishopsgate The company was founded by Derek Tullett in 1971 as a foreign exchange broker trading as Tullett amp Riley 4 During the 1970s and 1980s it opened a number of overseas offices and started its own computer graphical analysis company of financial futures options and FX rates Futrend Ltd In 1999 the Company merged with Liberty Brokerage to create Tullett Liberty 4 In early 2003 the company was bought by Collins Stewart plc a financial services company creating Collins Stewart Tullett plc 4 In October 2004 the company acquired Prebon Yamane a broking business formed in 1990 following the merger of three leading London based money broking businesses Babcock amp Brown Kirkland Whittaker and Fulton Prebon 4 and had adopted that name in acknowledgement of the firm s close business alliance with the Tokyo based Yamane Group 4 In December 2006 the group separated into two separate entities Collins Stewart stockbroking and Tullett Prebon moneybroking 5 The company acquired Chapdelaine a US broker in January 2007 and integrated the business into its existing operations 6 In September 2012 the company was asked to help the Financial Services Authority s investigation into malpractice across the City of London with particular interest in the LIBOR interest rate fixing 1 In 2014 Terry Smith chief executive of Tullett Prebon PLC left the London based brokerage firm to work full time at the privately owned asset management firm that he started in 2010 7 He was succeeded by John Phizackerley in September 2014 Phizackerley who preferred to be called Phiz started out as a mining engineer with Anglo American and was a former Lehman Brothers and then Nomura executive 8 In November 2015 the company agreed to terms with ICAP now known as NEX Group to acquire their global hybrid voice broking and information business 9 Using the name of the acquired business the company changed its name from Tullett Prebon plc to TP ICAP plc on 30 December 2016 10 On 10 July 2018 Nicolas Breteau was appointed as group chief executive officer of TP ICAP 11 On 24 March 2021 TP ICAP announced the completion of its acquisition of Liquidnet 12 In March 2022 the Financial Times reported that an activist investor and hedge fund Phase 2 Partners was urging the board to find a buyer for the company in order to unlock shareholder value 13 Operations editTullett Prebon The company operates as an intermediary in wholesale financial markets Many of its clients are commercial and investment banks It operates in eight product areas Volatility Rates Credit Treasury Non Banking Energy Equities and Property 14 The company also has specialist trading desks including for example Insurance Linked Securities where it facilitates Catastrophe Bond secondary market trading and provides a broking service to arrange Primary and Private Market transactions It also provides data information services for financial institutions covering areas such as Solvency II risk data Credit Default Swaps data and FX Options data 15 ICAP The company trades in a number of areas including interest rates credit credit derivatives foreign exchange interest rate swaps intellectual property patents via ICAP Patent Brokerage and equity derivatives 16 It operates from London New York and Tokyo with offices in a further 30 smaller financial centres such as Hong Kong Madrid Sydney and Singapore The average daily transaction volume exceeds US 1 5 trillion 17 PVM Oil This company covers over the counter broking of swaps forwards and physical crude oil and refined products together with exchange broking of WTI Brent and Gasoil futures contracts 18 COEX Partners Offers trade advisory and execution services in listed derivatives fixed income IRS markets and OTC foreign exchange 19 References edit a b Michael Fallon becomes business minister The Telegraph 5 September 2012 Retrieved 14 March 2023 a b c Preliminary Results 2023 PDF TP ICAP Retrieved 12 March 2024 Careers TP ICAP Retrieved 18 February 2023 a b c d e Tullett Prebon Interdealer Broking History tullettprebon com Archived from the original on 9 August 2008 Retrieved 3 April 2015 Login timesonline co uk Retrieved 3 April 2015 Simon Kennedy Tullett Prebon profit halves sees current market as ideal MarketWatch Retrieved 3 April 2015 Jenny Strasburg 3 June 2014 Tullett Prebon CEO Plans to Leave Firm As Soon As This Month WSJ Retrieved 3 April 2015 Tullett Prebon names Phizackerley as chief executive officer Reuters UK Retrieved 3 April 2015 Tullett to Acquire ICAP s Global Hybrid Voice Broking Business Bloomberg Retrieved 2015 11 11 Tullett Prebon Change Of Name To TP ICAP Mondo Visione Retrieved 3 January 2017 Trading Update and Directorate Change TP ICAP Retrieved 10 July 2018 ICAP plc to acquire Liquidnet for up to 537 million Digital Market News 9 October 2020 Stafford Philip 2022 03 23 US activist urges TP ICAP to sell Financial Times Retrieved 2022 04 26 Tullett Prebon Electronic And Voice Interdealer Broker tullettprebon com Archived from the original on 15 September 2013 Retrieved 3 April 2015 OTC Data Financial Information Services Tullett Prebon tpinformation com Retrieved 3 April 2015 ICAP plc 2007 Annual Report p2 ICAP and the OTC markets Miranda hemscott com Retrieved 18 April 2011 Madhumathi R 2012 Derivatives and Risk Management Pearson p 57 ISBN 978 8131759936 Tullett Prebon snaps up PVM Oil pvmoil co uk Retrieved 9 May 2014 World s largest interdealer broker TP Icap grabs rival Coex Partners coexpartners com Retrieved 30 November 2017 External links editOfficial website Retrieved from https en wikipedia org w index php title TP ICAP amp oldid 1213823913, wikipedia, wiki, book, books, library,
