LONDON Feb 5 Interdealer broker ICAP
said on Wednesday third quarter revenue was 6 percent lower than
the previous year due to challenging market conditions.
The British-based company said reduced activity by
investment banks and disruptive new regulations in the swaps
market had impacted the performance in its voice broking
Tapering of the U.S. Federal Reserve's quantitative easing
programme helped its electronic markets, however, and its post
trade operations benefited from higher demand.
ICAP said its expectations for full year profit remain
unchanged but warned that further bank deleveraging and fresh
regulations on swaps trading could affect performance in the