ICAP Revenue Declines as CEO Spencer Bets on Speed Traders

  • CEO is hopeful the Tullett deal will complete this summer
  • Renminbi is third most-traded on its foreign-exchange market

The chief executive officer of ICAP Plc, which reported a 7 percent drop in revenue from electronic markets, says high-frequency trading firms such as Citadel LLC and Virtu Financial Inc. will help to make up for reduced trading from banks.

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