July 15, 2009 / 6:22 AM / 10 years ago

UPDATE 1-ICAP Q1 revenues up 10 pct, says profit on track

(Adds detail)

LONDON, July 15 (Reuters) - Britain’s ICAP Plc IAP.L, the world’s biggest interdealer broker, said revenue in its latest quarter was up over 10 percent from the year before, aided by rising bond issuance and active commodities markets.

ICAP said on Wednesday its “solid” start to the year left pretax profit on course to meet the average analyst forecast, despite difficult conditions for both credit and equity derivatives.

Interdealer brokers match up buyers and sellers across fixed income, foreign exchange, equities and commodities markets, and have been more resilient than other financial firms during the financial crisis as they benefit from lively markets. (Reporting by Steve Slater; Editing by Dan Lalor)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below