ICAP Purchases Rest Of TriOptima

ICAP has acquired the remaining 61.78% of TriOptima it does not own for 121 million, continuing its push into financial plumbing. In the half year to September 2009, 19% of ICAPs profits came from post-trade and information services
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ICAP has acquired the remaining 61.78% of TriOptima it does not own for 121 million, continuing its push into financial plumbing. In the half year to September 2009, 19% of ICAPs profits came from post-trade and information services.

ICAP originally invested in TriOptima when the business was founded in 2001.

Michael Spencer, group chief executive officer of ICAP, said Post-trade services are an area where risk management allied with technology innovation is creating exciting new high growth opportunities for ICAP.

TriOptima recently launched an OTC derivatives interest rate trade-reporting repository for banking regulators. Ay present, it is the only company backed by the G15 banks to launch such a service.

In 2009, TriOptimas multilateral termination service, triReduce, eliminated $14.5 trillion of outstanding credit derivatives contacts and $25.8 trillion of outstanding interest rate derivatives contracts.

Brian Meese, TriOptimas chief executive officer, commented, “TriOptima and ICAP share a vision of providing comprehensive post-trade services to the OTC markets. By becoming part of ICAP, TriOptima will be able to more rapidly expand the range of post-trade and risk management services we provide. We anticipate significant growth opportunities from working closely with ICAPs other post-trade and risk management businesses to provide a higher level of service to our combined customer base.

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