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Tullett Prebon May Purchase ICAP's Voice-Broking Business

  • About 1,450 voice brokers would transfer to Tullett under deal
  • Interdealer brokers are under pressure as banks reduce trading
Updated on

Tullett Prebon Plc is in discussions to buy ICAP Plc’s voice-brokerage business, giving it the scale to reduce costs in a shrinking market.

For ICAP, the deal would help redefine the world’s largest broker of transactions between banks as a technology business.