Icap, the interbroker dealer, has said the worst of the financial crisis is over and the banking system is “near stable,” even as the company’s share price fell, according to The Financial Times.
Volatile conditions in September set record trading volumes and sent Icap’s net income up 5%.
“We have seen very high trading volumes in many of our markets as ‘risky assets’ have been liquidated and there has been a dramatic migration to ‘safe-haven assets,'” says Icap. “Steeper yield curves, the higher price of credit and continuing disruption in the money markets suggest that this period of increased activity is not yet over.”