ICAP Information, part of TP ICAP, the world’s largest inter-dealer broker, has launched a first-of-its-kind data package covering African OTC markets. 

The new product will make data captured by ICAP’s long-established South African desk available commercially to the general marketplace for the first time, including many areas for which there has previously been no data available.

The information covers multiple asset classes including FX, fixed income and interest rates across a wide range of countries and regions throughout the continent, namely Botswana, Ghana, Kenya, Mauritius, Nigeria, South Africa, Tanzania, Uganda, and Zambia.

The release is the latest output from the closer relationship between TP ICAP’s Data & Analytics and broking divisions, as the company looks to increase the collaboration between its business units and diversify its product and client base. The information in the new offering will be beneficial to customers with exposure to the continent across a number of day-to-day activities, from the front-office, covering price discovery and accurate securities pricing, through to the middle and back offices including risk management, valuation and independent price verification.

Tullett Prebon, part of TP ICAP, the world’s largest interdealer broker, is pleased to announce the successful settlement of the first Insurance Linked Notes (ILN) transaction following onboarding of the first group of clients to its newly launched ILN platform.

The new ILN initiative is spearheaded by Tullett Prebon’s Insurance-Linked Securities (ILS) Desk, which was formed in 2008 and is a leading broker in catastrophe bond secondary trading worldwide. The ILS Desk has traded with multiple ILS counterparties throughout the world, including dedicated ILS Funds, Reinsurance Company funds, Multi Asset Managers, Multi Strategy Hedge Funds,

Pension Funds and Investment Banks. In addition, the new ILN Platform is available to Insurers, Reinsurers, Corporates and other potential protection buyers.
ILNs are fully collateralized, securitized, listed and tradable instruments. They are Industry Loss based instruments, similar, to Industry Loss Warranties, but designed to provide clients with a more cost efficient method of protecting, investing in and hedging catastrophe risk.

Steve Emmerson, Head of ILS at Tullett Prebon, said: ”The ILN platform from Tullett Prebon introduces a unique combination of tools under one roof, including real time ILN risk analytics, the ILN issuance vehicle, our voice assisted trading platform, and ILN market data. This enables all approved counterparties to design, analyse and trade in catastrophe risk. “

“We can issue ILNs for as low as USD5m in size, which tends to be impractical for industry loss based Cat Bonds due to the issuance costs involved” Emmerson added. “And unlike ILWs, these are tradable instruments and provide for anonymity between parties.”

“We have worked hard for some time now to bring this to fruition, alongside many partners and service providers, including our partners at Artex Risk Solutions (Bermuda) Ltd, Analyze Re as well as our clients.”

Rob Eastham, Executive Chairman of Artex in Bermuda said “We are delighted that Artex is one of Tullett Prebon’s key partners in the introduction of this transformational product, which provides both market liquidity and a cost-efficient trading solution. As Steve mentioned, the design and launch were a significant task which we believe will greatly benefit the ILS industry, with the end goal of becoming the platform of choice for future innovation in index linked trading.“
Adrian Bentley, Managing Director of Analyze Re said, “We are excited to be working with Tullett Prebon on this innovative product and our aim is to provide the most flexible and transparent picture of risk for each potential ILN prior to trading. All registered users will have access to our real-time analytics which will enable protection buyers and sellers to instantly evaluate the risk based on factors including geography, type of catastrophe, and trigger level.”

Two of the fully onboarded ILN clients, LGT and Schroders, also observed the breakthrough.
“We are constantly exploring new ways of accessing reinsurance transactions on behalf of our institutional investor base” said Christian Bruns, Partner and Portfolio Manager at LGT ILS Partners.
“We were structuring the first cat bond light deals back in 2012 and launched Lumen Re as our rated balance sheet in 2017. Tullett Prebon’s ILN platform is now taking ILS innovation one step further and represents a very efficient new tool to both protection buyers and sellers. We are excited being the first ILN clients to execute a deal on this new platform.”

Daniel Ineichen, Head of Fund Management, Schroder Secquaero said: “We congratulate the team at Tullett Prebon for the successful launch of its ILN platform. We believe that this innovative solution has the potential to further accelerate the growth of the ILS market. The degree of transparency provided in combination with the flexibility to buy or hedge risks, offers an effective and cost efficient way to enhance the management of ILS portfolios.”

TP ICAP, the world’s largest interbroker dealer, today announced that it has acquired ClearCompress Limited, an algorithm-based compression service in cleared and uncleared derivatives that helps its clients achieve cost efficiencies and reduce capital requirements.

TP ICAP first took a stake in ClearCompress in November 2018 but has now agreed to acquire the remainder of the company.  ClearCompress, along with its key team members, will sit within TP ICAP’s growing portfolio of optimisation products, including the post-trade risk management platform MatchBook.

ClearCompress is a targeted compression solution, which has been designed to solve the inefficiencies of existing multi-lateral compression services. It offers:

• An on-demand, fast execution service capable of completing multiple compression runs intra-day;
• High levels of compression efficiency as a result of innovative algorithms and targeted client services;
• A light touch service; helping clients make better use of their constrained resources;
• Flexible quant analysis and execution, highly configurable to client risk parameters; 

Nicolas Breteau, CEO of TP ICAP, said: “We are delighted to have acquired ClearCompress and seen a recent live run in action. This is a unique and cost-efficient offering which will be a valuable addition to our stable of optimisation services.”

David Hill, CEO of ClearCompress, said: “I am really pleased that ClearCompress will now become part of TP ICAP as we progress to the next stage of our development. We originally set up ClearCompress to address the inefficiencies within the existing compression services and believe that our light-touch, fast and highly efficient solution will prove very popular with TP ICAP’s unrivalled client base.”

TP ICAP, the world’s largest interdealer broker, announces that it has appointed Amir Zaidi as Global Head of Compliance.

Prior to TP ICAP, Amir spent 9 years at the US Commodity Futures Trading Commission (“CFTC”) in a variety of roles, most recently, Director, Division of Market Oversight. In that role, Amir led a team of 90 staff across four offices to oversee derivatives platforms and swap data repositories and the CFTC’s market intelligence initiatives. He also performed the role of Legal Counsel & Policy Advisor for two Commissioners and Special Counsel, Division of Market Oversight. Prior to his career at the CFTC, Amir worked at the Financial Industry Regulatory Authority and at Arnold & Porter LLP. Amir will be based in TP ICAP’s New York office with effect from September 2019.

Nicolas Breteau, Chief Executive of TP ICAP, said: “I am very pleased that Amir will be joining TP ICAP. Amir brings a vast amount of regulatory experience in our sector which will be critical for TP ICAP as we continue to develop our world class compliance function in support of our market leading and diverse range of businesses across wholesale financial markets and the growing data and analytics sector.”

Amir Zaidi said: “I am delighted to be joining TP ICAP. It is clear that regulators are very focused on the role of interdealer brokers in financial markets and their operation of trading venues in support of a wide range of clients. I hope to leverage my experience for TP ICAP and its clients and assist in the evolution of the firm’s compliance function.”

TP ICAP’s Group Head of Compliance will report to Philip Price, Executive Director and Group General Counsel. 73 compliance professionals across 14 offices will report to the Global Head of Compliance.

TP ICAP, the world’s largest interdealer broker, today announces that its Energy & Commodities business has entered into a joint venture (“JV”) in China with Enmore Investment Group (Shanghai) Co. ltd.

The JV, will be called Enmore Commodity Brokers (Shanghai) Co. Ltd (“ECB”), and will be based in Shanghai offering professional intermediary services in the Chinese OTC, cleared and physical commodities markets. ECB’s first desks will offer brokerage services in Iron Ore, Coal (bulks), LPG and Naphtha (light ends) with additional commodity products offered over time.  ECB will also offer liquidity from the TP ICAP companies – Tullett Prebon, ICAP and PVM - to its onshore clients and access offshore clients via the TP ICAP brands.

Chinese commodity markets have recently opened up following the launch of the INE crude contract.  The Dalian exchange has also opened its iron ore contract to foreign investors. TP ICAP believes these initiatives will increase client demand for the OTC cleared products offered by ECB.

Andrew Polydor, CEO of TP ICAP Energy & Commodities, said: “The launch of this joint venture is a very exciting initiative and a demonstration of our ambition for the Energy & Commodities business. Combining TP ICAP’s leading position as a broker in International markets with Enmore Investment Group’s strong position in China is a compelling proposition which will greatly benefit our clients.”

Marco Zhang, Executive Director & CEO from Enmore Investment Group, said: “The rapid growth and huge potential of China's commodity market and its influence on the international market are obvious to the world. Enmore Investment Group, based in China, is a leading commodity trading platform and trading brokerage service provider. I am excited and looking forward to entering into the JV with the world’s largest interdealer broker, TP ICAP, which will provide Chinese clients with more liquidity and more international services.”

Additionally, as part of the agreement, TP ICAP Data & Analytics has the exclusive right to distribute all the data internationally, outside of China, from the JV.

TP ICAP’s global Energy & Commodities division operates three independent brokerage brands in all the key commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals, soft commodities and coal.  The three brands of Tullett Prebon, ICAP and PVM are independent from each other and offer our clients three distinct, competing liquidity pools. 

Enmore Investment Group is a Chinese conglomerate headquartered in Shanghai and began as a commodity information service provider. Enmore’s business includes a commodity spot trading platform, financial & data services and is Asia's leading bulk chemical brokerage.  It also provides cleared broking services on the Shanghai Clearing House and the Singapore Exchange. Enmore provides diversified services to vertical industry players such as producers, traders, and downstream manufacturers, as well as banks, futures companies and financial investment institutions.

Contacts:

William Baldwin-Charles, Group Media Relations Director      
+44 20 7200 7124

William.Baldwin-Charles@tpicap.com

About TP ICAP

TP ICAP is a global firm of professional intermediaries that plays a pivotal role in the world’s financial, energy and commodities markets. Operating through our core businesses, Tullett Prebon, ICAP, PVM, Coex Partners, Tullett Prebon Information, ICAP Information Services and PVM Data Services, we create strong networks in person and through technology. We provide comprehensive analysis and insight into market conditions and long-term trends. We combine data, knowledge and intelligence into contextual insight and commercial guidance. By engaging with our clients, and providing innovative products and services, we enable our clients to transact with confidence, facilitating the flow of capital and commodities around the world, enhancing investment and contributing to economic growth.

ICAP Information, part of the TP ICAP group, the world’s largest interdealer broker, has launched a new, comprehensive market data service for the Indian OTC market.

The new service will allow participants to access information based on real-time bids and offers, rather than having to rely on indicatives – providing a uniquely accurate, reliable and independent insight into market activity for the first time.

Made possible by ICAP’s leading market position, the service will source data from five desks – four onshore and one offshore – as well as provide real-time data direct from I-Stream, India’s first and largest electronics swaps trading platform. Users will gain direct access to real-time data relating to INR denominated Money Markets, FX, Interest Rate Derivatives and Fixed Income instruments across the region.

Smita Gupta, Head of Credit and Interest Rate Derivatives comments: “Since its launch a decade ago, I-Stream has emerged head-and-shoulders as the primary hub for price discovery and execution in India’s OTC market. While the growth of this market to date has been staggering, there is still a long way to go – India is the world’s fastest growing economy and its appeal to offshore participants will only increase.

“What participants need, as the market continues to open up, is both price transparency and a trusted trade-backed source for market valuations. This has been a missing piece of the puzzle so far, and it is what we are looking to provide with this new service. 

“On top of the inherent benefit of having access to real-time traded information as opposed to theoretical indicatives, the service is also designed to help users comply with complex regulatory onshore and cross-border needs, and facilitate robust risk-monitoring. This will put users in a much better position as the market continues to open up to offshore investment and becomes more liquid, and provides an element of futureproofing as onshore regulations inevitably falls in line with international standards regarding pricing, risk and transparency”

The launch is the latest to emerge from the partnership between TP ICAP’s Data Analytics and Global Broking divisions, with the aim of turning TP ICAP’s market leading position into innovative data products that provide unprecedented insight and coverage into less liquid or well-covered markets. It follows the recent launch of new Euro IRO and Global Inflation services, with more new offerings to come later in the calendar year, and beyond.

Ovie Koloko, Global Head of Product Management comments: “This new product is a perfect example of how TP ICAP is able to use its unique market position to bring liquidity and transparency to exciting-but-still-developing markets like the Indian OTC arena. As well as giving our customers a distinct competitive edge, providing insight in this way should improve the functioning of the market as a whole, as it takes an increasingly important position on the world stage. It’s fantastic to see our approach bearing fruit like this, and there is much more yet to come.”

About ICAP Information

ICAP Information is the market data & price information division of ICAP Group and delivers independent OTC data solutions to financial professionals. With over 400 million updates per day and constant advances in product complexity, ICAP’s data is the intelligence behind algorithmic trading, research models, risk and compliance applications and portfolio pricing and management.  

ICAP Information is part of TP ICAP group which manages a portfolio of businesses, providing intermediary services, contextual insights and intelligence, trade execution solutions, and data and analytics. For further information on TP ICAP please visit tpicap.com.

TP ICAP is aware of a fraudulent cryptocurrency website.

The ‘clone firm’ activity is in regards to the fake ICAP Crypto website, icapcrypto.com. 

We want to make it clear that ICAP Crypto is not part of ICAP or TP ICAP.

We have been in contact with the Financial Conduct Authority (FCA), who have issued a warning and requested that the domain provider removes the website.

We would urge clients to take care when contacting us via digital media as internet fraud is becoming increasingly common. If you have been in contact with this website or the fraudsters, we would recommend that you contact the Financial Conduct Authority (FCA) immediately.

Further details on the ‘clone firm’ and how to alert the Financial Conduct Authority (FCA) can be found here: https://www.fca.org.uk/news/warnings/icap-crypto-clone-authorised-firm.

TP ICAP, the world’s largest interdealer broker, is pleased to announce that it has signed the UK’s Armed Forces Covenant. The Armed Forces Covenant is a pledge on behalf of the nation that those who serve in the Armed Forces, and their families, will be treated fairly.

The signing was hosted at the Ministry of Defence, in the office of the Minister for Defence People and Veterans Rt Hon Tobias Ellwood MP. It was attended by TP ICAP senior management, including Chief Executive Nicolas Breteau, members of TP ICAP’s Veterans Network, Paralympian and former soldier Derek Derenalagi.

Minister for Defence People and Veterans, Tobias Ellwood, said: “I’m really pleased that TP ICAP has signed the Armed Forces Covenant. In doing so, the company has recognised the benefits of employing our talented military personnel, particularly within the financial services sector”.

Nicolas Breteau said “Serving in the Armed Forces helps people develop a wide range of transferable skills, including working under pressure and making good quality decisions. We have seen first-hand how their unique experience can benefit our organisation and believe other financial services companies need to tap into this exceptional pool of talent”

To date nearly 4,000 companies have signed up to the Covenant. TP ICAP is proud to join them in upholding the key principles of the Covenant and confirm its status as an Armed Forces friendly organisation.

Enquiries:

Harriet Austerberry

Communications Manager, TP ICAP
020 3933 3012
Harriet.Austerberry@tpicap.com

ICAP, part of TP ICAP, the world’s largest interdealer broker, is pleased to announce the launch of its Digital Asset Markets venture, which will initially operate in the cryptoasset derivatives space.

The business has been launched in London, with regional desks in Asia and the United States to follow, offering clients global coverage. Initially, ICAP Digital Asset Markets will provide clients with OTC liquidity in the CME Bitcoin future, with plans to provide OTC liquidity in a Bitcoin non-deliverable forward. 

Frits Vogels, CEO TP ICAP EMEA, said: “We have been closely monitoring the development of this emergent asset class and recognise the transformational effect that the underlying technology could have on our industry.

“While this marks our first step into the asset class, we believe that cryptoassets are only a subset of a wider universe of digital assets that could be created through the use of this technology, and that the tokenisation of value could have application across multiple traditional asset classes.”

TP ICAP is seeking to identify digital asset opportunities and the group is exploring how its global network of trading venues and data services can provide institutional solutions to clients looking to operate within this emergent asset class.

Media enquiries:

William Baldwin-Charles,

Group Media Relations Director

William.Baldwin-Charles@tpicap.com

+44 (0) 20 7200 7124

About ICAP:

ICAP is a leading markets operator and provider of post trade risk mitigation and information services. ICAP matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks, post trade risk mitigation and ICAP’s information services provide data across all key asset classes and offers innovative solutions for real-time, end-of-day and historical products. ICAP is a TP ICAP company. For further information, please visit www.icap.com. 

TP ICAP, the world’s largest interdealer broker, is pleased to announce the appointment of GJ Prasad and Tosin Buraimo as Managing Directors of the specialist credit desk at Coex Partners, part of its Institutional Services division.

The appointments underpin the creation of a new specialist credit desk focusing on bank capital instruments, and will offer portfolio strategy, insights and execution.

GJ Prasad has an in-depth knowledge of European banks and capital instruments, having covered the asset class as both an analyst and a risk taker in buy-side roles. He has particular experience in fundamental research, financial modelling and forecasting, portfolio investing and tactical trading. Prior to joining Coex he held Senior Analyst roles at Caxton Associates and Millennium Capital Partners, and before that as Executive Director at JP Morgan’s Chief Investment Office and Bank of America Merrill Lynch. His detailed knowledge of European banks and capital instruments will be at the centre of the role.

Tosin Buraimo brings over 14 years’ experience in trading and risk management of fixed income products. An experienced liquid credit and macro cross-asset specialist, Tosin was a Liquid Credit Portfolio Manager of the $1.4 billion global credit fund at City Financial Investment Company. Prior to joining Coex, Tosin held Portfolio Manager roles at Lucidus Capital Partners and most recently Decca Capital. 

TP ICAP’s Institutional Services division provides an agency sales and execution service in a wide range of asset classes, to a sophisticated client base of hedge funds, asset managers and asset owners.

Alex Gerskowitch, Institutional Services’ Global Head of Sales said “I am delighted that GJ and Tosin have joined us. They bring vast expertise, resourcefulness and in-depth knowledge to a new bespoke credit desk, marking an exciting new phase for the business. I am confident that together they will make a significant contribution to furthering our ambitions”.

Contacts:

Harriet Austerberry, Communications Manager, TP ICAP
020 3933 3012
Harriet.Austerberry@tpicap.com

About TP ICAP

TP ICAP is a global firm of professional intermediaries that plays a pivotal role in the world’s financial, energy and commodities markets.

Operating through our core businesses, Tullett Prebon, ICAP, PVM, Coex Partners, Tullett Prebon Information, ICAP Information Services and PVM Data Services, we create strong networks in person and through technology. We provide comprehensive analysis and insight into market conditions and long-term trends. We combine data, knowledge and intelligence into contextual insight and commercial guidance. By engaging with our clients, and providing innovative products and services, we enable our clients to transact with confidence, facilitating the flow of capital and commodities around the world, enhancing investment and contributing to economic growth.

Our values of honesty, integrity, respect and excellence underpin everything we do.

On the second annual National Numeracy Day, TP ICAP’s EMEA CEO, Frits Vogels,  considers the importance of numeracy, the problem of maths anxiety and TP ICAP’s work to improve social mobility.

Those of us who work in financial services are acutely aware of just how critical numeracy is to our economy and to productivity here in the UK. But many of us will take for granted just how much it can impact our daily lives.

Poor number skills can impact all aspects of life – with low levels of numeracy linked to unemployment, low wages and even poor health.

We chose to tackle this issue because we wanted to help remove the barriers that prevent talented people from succeeding, no matter what their background, gender or start in life.

Today marks the second year supporting National Numeracy Day, and I am proud of the progress we have made.

Last year we launched our Everybody Counts numeracy campaign, through which we have set ourselves an ambitious aim of reaching one million beneficiaries across our global markets, to help them improve their numeracy skills over the next three years.

We also became a strategic partner to UK charity National Numeracy and we are now working with them to scale-up their activities and empower 250,000 people across the UK to start improving their number skills.

Cross-industry collaboration will be key to making real change on this issue. In February, we held a dinner with many of our clients, to discuss the underlying causes of poor numeracy and to understand the important work companies across our industry are already taking on this agenda. Building on this, today we will be convening CSR leads from across the City to explore how we can now develop an industry wide approach to tackling low levels of numeracy in the UK.

We know that negative attitudes to maths are the main barrier to UK adults improving their skills, and ‘maths anxiety’ can cause people to feel stressed and anxious about using numbers.

New research from National Numeracy shows us that it is a particularly gendered problem. Their report published on 15 May 2019 shows that fewer women feel confident in dealing with numbers than men.  Some 64% of women sampled said they did not feel confident and three in ten women said that using maths and numbers makes them feel anxious.

It’s a pervasive issue that even affects employability. The same research found that a quarter of people would be put off applying for a job if it listed “using numbers and data” as a requirement;  a figure which rose to 30% for women.

This is particularly worrying for our financial services industry which has a well-documented challenge in attracting women. While there are many factors that contribute to this, a lack of confidence with numbers is causing many people, particularly women, to rule themselves out too early from careers in finance that offer some of the best potential for social mobility in this country.

It is clear this is a key barrier for both children and adults to improving their numeracy, which is why we will be focusing our future work on tackling maths anxiety.

Later this year, we will be launching a campaign alongside National Numeracy based on new research, which will aim to uncover the extent that ‘maths anxiety’ prevents people from improving their numeracy, and in particular, the impact this has on gender disparity in the workplace.

We know we can achieve so much more by working together. Our colleagues will be using their skills and expertise to support the ambitions of the campaign and we want to encourage companies from across the sector to champion this agenda however they can.

I look forward to finding out what we can achieve together as an industry.

Frits Vogels
EMEA CEO, TP ICAP plc

ICAP information, part of TP ICAP, the world’s largest interdealer broker, has launched two new data sets, covering EURO Interest Rate Options (IRO) and Global Inflation. By making this data commercially available for the first time TP ICAP aims to provide market participants with greater transparency in a traditionally opaque asset class. The release of this new data follows ongoing efforts to strengthen the group’s leading position in providing superior data products, working closely with TP ICAP’s Global Broking division. The EURO IRO package, built on ICAP Information’s leading position in the market as a provider of liquidity, offers an unprecedented level of coverage and granularity in this asset class. The Global Inflation package is a broader offering, encompassing a wide variety of inflation data from across the world, including Australian and Israeli data. It marks the first time that such a comprehensive range of inflation data, from across all major regions, has been made commercially available to the wider market from a single source.

Ovie Koloko, Global Head of Product Management, comments:
“Since last year the Data & Analytics and Global Broking divisions have been working closely together in a formalised partnership. The aim being to take advantage of the brokers’ market leading position, gather data from across the business, and make it available to the wider community. Filling existing gaps in quality or coverage, or where information has simply never been accessible before, has been our initial focus. “These latest two products are examples of what the relationship can achieve and we’re confident that these packages will be of tremendous use to a variety of our clients. By disseminating this information more widely, we are aiming to create a virtuous circle. This approach will drive better analytics and services in our Global Broking division, which will ultimately give us better data. This is just the start. Our customers can expect further innovative data packages over the coming year.”

The information contained within both packages will be for price discovery and accurate securities pricing in the front office, as well as risk management, valuation and independent price verification in middle and back office functions. The information also comes with a large amount of historical data.

About ICAP Information

ICAP Information is the market data & price information division of ICAP Group and delivers independent OTC data solutions to financial professionals. With over 400 million updates per day and constant advances in product complexity, ICAP’s data is the intelligence behind algorithmic trading, research models, risk and compliance applications and portfolio pricing and management. 

ICAP Information is part of TP ICAP group which manages a portfolio of businesses, providing intermediary services, contextual insights and intelligence, trade execution solutions, and data and analytics. For further information on TP ICAP please visit www.tpicap.com.

Tullett Prebon, part of TP ICAP Group, the world’s largest interdealer broker, today announces the appointment of Andrew Patterson to the London Metal Exchange (LME) desk as a Senior Account Executive. 

Andrew will join Tullett Prebon next month and will operate from the business’s Energy and Commodities hub in Victoria, London. Patterson has over 24 years of experience in commodities, having worked most recently in the metals trading and sales space for Societe Generale, where he was Head of Metal Commodities  & Iron Ore, EMEA. Before this, Andrew spent 12 years as Senior Director of Metals London at Newedge.

Andrew will report into Mark Sedgwick and Stephen Walter, Co-Desk Heads of LME products, and joins the business with a desire to get back into hands-on broking.

Andrew Polydor, CEO, TP ICAP Energy & Commodities, commented: “We are delighted to welcome Andrew to our LME desk. We are always on the lookout for quality hires who can add to the profitability of the desk, and we have every confidence that Andrew can deliver this for us.”

For further information:

Joss Turner
Communications Assistant
Joss.Turner@tpicap.com
+44 0 207 200 7456

About Tullett Prebon

Tullett Prebon is part of TP ICAP Group which manages a portfolio of businesses, providing intermediary services, contextual insights and intelligence, trade execution solutions and data and analytics. 

For further information on TP ICAP please visit www.tpicap.com 

ICAP Energy LLC, part of TP ICAP group, the world’s largest interdealer broker, today announces the appointment of Nicholas Ernst and Eric Ernst who have been hired to run the new ICAP Weather Derivatives desk within the Energy & Commodities division. The new team brings a wealth of experience in weather derivatives and weather contingent commodity deals to the business and will be essential in assisting ICAP customers in reducing their weather-related risks. Award-winning broker, Nicholas, joins ICAP as Managing Director, Weather Markets, having worked in the sector for 17 years. He previously held the position of Director of Weather Markets at Choice Energy. Before this, Nicholas spent 10 years as Director of Weather and Catastrophic Risk Markets at Evolution Markets.

Eric joins ICAP as a Weather Broker having previously spent five years at Choice Energy. Before this, Eric spent three years in the renewable energy space. Gregory Holtgrave, Head of ICAP Americas Energy & Commodities, said: “This is an exciting time for ICAP Energy & Commodities. The appointments of Nicholas and Eric show our commitment to expand and explore new opportunities across the global energy and commodities space. I’d like to welcome them to their new roles, and I look forward to working closely with them as we build out this new offering.”

Contacts:

Laura Whybrow Communications Manager

Laura.Whybrow@tpicap.com

020 7200 7568

About ICAP
ICAP is a leading markets operator and provider of post trade risk mitigation information services. ICAP matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks, post trade risk mitigation and ICAP’s information services, provides data across all key asset classes and offers innovative solutions for real-time, end-of-day and historical products. ICAP is a TP ICAP company. For further information, please visit www.icap.com.

TP ICAP, the world’s largest interdealer broker, is pleased to announce that Mike du Plessis has been appointed as Senior Managing Director of its Institutional Services division, reporting to John Ruskin, CEO of Institutional Services.

Mike will join TP ICAP in New York on July 8th, adding extensive client development, electronic execution and leadership experience across FX, Rates, Credit, and Equity Derivatives. Mr. du Plessis joins from UBS A.G., where he spent 8 years as a Managing Director in senior roles in London and New York, including Global Head of FX, Rates & Credit Execution Services and Global Head of ETD Macro Execution.

Prior to joining UBS in 2010, Mike worked for almost 20 years in listed and cross rates sales, including roles at Cube Financial, Lehman Brothers and Deutsche Bank. He has also served as a Board Member of FIA Europe (previously the Futures & Options Association in London).

TP ICAP’s Institutional Services division provides an agency sales and execution service in a wide range of asset classes, to a sophisticated client base of hedge funds, asset managers and asset owners.

“I am delighted that Mike has agreed to join us. He brings immense credibility and expertise to our growing Institutional Services franchise and I am confident he will make a significant contribution to furthering our ambitions”, said John Ruskin, CEO of Institutional Services. “Mike has a strong reputation for his singular vision for agency execution and client focus; his appointment is a response to the growing demand amongst our clients for truly impartial and measurable execution quality alongside dedicated pre and post trade service provision.” 

Enquiries: 

TP ICAP:

William Baldwin-Charles
Director of Media Relations

william.baldwin-charles@tpicap.com

+44 (0) 20 7200 7124

About TP ICAP

We are a global firm of professional intermediaries that plays a pivotal role in the world’s financial, energy and commodities markets.

Operating through our core businesses, Tullett Prebon, ICAP, PVM, Coex Partners, Tullett Prebon Information, ICAP Information Services and PVM Data Services, we create strong networks in person and through technology. We provide comprehensive analysis and insight into market conditions and long-term trends. We combine data, knowledge and intelligence into contextual insight and commercial guidance. By engaging with our clients, and providing innovative products and services, we enable our clients to transact with confidence, facilitating the flow of capital and commodities around the world, enhancing investment and contributing to economic growth.

Our values of honesty, integrity, respect and excellence underpin everything we do.

tpicap.com