Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

ICAP Advances Amid Report Libor Fine May Be Smallest So Far

Sept. 9 (Bloomberg) -- ICAP Plc, the world’s largest broker of trades between banks, rose to a 17-month high in London as Sky News reported it faces the lowest fine so far in the global probe into the rigging of benchmark interest rates.

The interdealer broker may pay about 70 million pounds ($110 million) to the U.K.’s Financial Conduct Authority and the U.S. Department of Justice and Commodity Futures Trading Commission, Sky reported, without saying where it got the information. The figure may change because a final agreement is yet to be reached, Sky said.

At 70 million pounds, the settlement would be within the 50 million-pound to 100 million-pound range Morgan Stanley analyst Anil Sharma published on Sept. 4. It’s also less than the 290 million pounds Barclays Plc paid last year when it became the first company to be fined for rigging the London interbank offered rate, the benchmark for more than $300 trillion of securities from mortgages to student loans.

The stock climbed 18.3 pence, or 4.6 percent, to 417.80 pence in London trading, the highest since March 23, 2012. Brigitte Trafford, a spokeswoman for London-based ICAP, declined to comment on the report.

To contact the reporter on this story: Howard Mustoe in London at

To contact the editor responsible for this story: Edward Evans at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.