March 8 represents a special day globally, marking the celebration of International Women’s Day. It is a call to action to accelerate gender parity and recognise the social, economic, cultural and political achievements of women.

The day has been marked in diaries for well over a century now, with the first IWD gathering in 1911 supported by over a million people in Austria, Denmark, Germany and Switzerland. Today, IWD is a global collective and its importance is as stark as it was back in the early 20th century.

#breakthebias

This year’s IWD theme is ‘Break The Bias’. But what does this mean? It is a movement that we support here at TP ICAP to not just imagine a gender equal world but make it a reality. If all areas of society play their part to #breakthebias, we can all benefit from a world that is free of bias, stereotypes, discrimination - where diversity in our communities and workplaces is valued and celebrated. Whether it occurs deliberately or unconsciously, bias makes it difficult for women to progress and fulfil their potential. Simply acknowledging that bias exists isn’t enough; action is needed to level the playing field.

So why is it so important we shift the current landscape? There is still a huge gulf in gender parity in nations across the globe. A World Economic Forum study last year actually found that the global gender gap has increased by a generation from 99.5 years to 135.6 years. We have also seen halted progression in the UK, with The Guardian reporting the gender pay gap reported by Britain’s biggest firms is widening. Women are being paid a median hourly rate 10.2% less than their male counterparts, nearly a percentage point higher than the 9.3% gap reported in 2018.

With these disappointing stats in mind, it is only right that celebrating International Women’s Day is part of TP ICAP’s agenda - putting gender diversity front and centre.

What we’re doing at TP ICAP

Here at TP ICAP we are committed to ensuring our work environment globally is an inclusive place to flourish. All of our employees – regardless of their gender, educational background, ethnicity, ability, age or sexual orientation – are owed an equal opportunity to succeed.

Since signing the Women In Finance Charter in September 2018, we have made significant improvements on gender balance at all levels of our organisation. As of September last year, we beat our target to see 25% senior women in the business by 2025. But there is more we can do and will do to secure future growth by building diversity into our succession pipeline.

In February, we launched the Women in Leadership Programme. Designed to have impact by giving all our women the tools and skills to boost and inspire career growth. All staff are encouraged to join the sessions – held throughout 2022 -  to get expert advice, knowledge and skills.

TP Accord – driving positive change

Our wider employee network, collectively known as TP ICAP Accord, supports our drive to improve diversity & inclusion across the business. It is another avenue for all staff to promote positive change within our employee groups in LGBTQ+, Multicultural, Sports & Wellbeing, Veterans’ and Women’s Networks. These networks have a combined aim to unite our employees, to celebrate our diverse workforce and to collaborate on areas of common interest.

As we celebrate what I hope is an impactful and landmark IWD, I encourage everyone to explore ways in which they can get involved and make our communities a more inclusive place for all.

Thank you.

Philip Price,

Group General Counsel, TP ICAP

8 Mar 2022 12:00

Market Making Agreement clauses 5.1.2 & 6.0 Suspension due to Exceptional Circumstances.

Due to the current conflict in Ukraine, and associated high levels of underlying market volatility, the iSwap EU MTF/SEF venue operator (iSwap Euro B.V.) under the terms of clause 6 of the agreement is suspending obligations on Market Makers to provide pricing to the iSwap EU MTF/SEF. 

This suspension is effective from 08/03/2020, applies for the full month of March, and remains in place until further notice. 

Once the exceptional circumstances have ceased and as soon as technically possible the venue operator will notify participants of the date that normal market making obligations will resume.

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PVM, the world's leading broker of oil instruments and part of TP ICAP group, announced today the launch of its Natural Gas & Liquefied Natural Gas (LNG) desk, led by experienced brokers Victoria Adams and Alexandra Nitka.

Based in both London and Madrid, the new team of six – which includes senior broker Jatin Patel, formerly at Marex Spectron– assembles strong industry knowledge and client relationships built over a combined 50 years of working in the commodities markets.  It is also one of the few female-led brokerage desks in Europe.

The role of the desk is to provide an efficient brokerage service in European Natural Gas. Contracts include the Dutch Title Transfer Facility, German Trading Hub Europe and the UK’s National Balancing Point, as well as financial LNG products (Japan Korea Marker and the US dollar denominated TTF).

Both natural gas and LNG are considered to be transitional energy sources in the global shift to green energy, given their low environmental impact in comparison to other fossil fuels.

Victoria Adams, PVM Natural Gas & LNG Co-head, said, “The desk has launched at a time of unprecedented volatility in global gas prices, and we’ve already built up significant momentum. On our first day of trading the team closed TTF contracts, as well as instruments to help clients offset their positions. Our plan is to grow the Natural Gas and LNG desk to mirror the outstanding reputation PVM has built in the oil markets since its founding in 1971.”

Simon Andrews, PVM Chief Executive, said, “We are proud and excited to have added Natural Gas and LNG to the PVM brand’s extensive oil brokerage services. Launching in Europe is one part of a larger global initiative to build out our offering in this rapidly expanding market.”

The PVM Natural Gas & LNG Europe team offers brokerage services in the following contracts: TTF, THE, NBP, PEG, PVB, Austrian VTP, Czech VTP, JKM and TFU.

About PVM

PVM, part of TP ICAP group, is the world's leading independent broker of oil instruments. The company was founded in 1971 and has the longest history of any group in the industry as an international crude oil and products broker. Daily turnover averages well in excess of 100 million barrels of Over the counter (OTC) oil derivatives including options and oil futures contracts. The group employs around 140 people globally, including 70 OTC brokers and 14 futures brokers and runs 30 oil desks.

About TP ICAP Group plc

TP ICAP Group plc is a leading global markets infrastructure and data solutions provider.  The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:

• Global Broking: the largest Interdealer Broker in the world operating under the ICAP and Tullett Prebon brands servicing clients in Rates, FX, Credit and Equities. We match buyers and sellers, facilitate price discovery, liquidity, execution and risk management.
• Energy & Commodities: the world’s leading OTC energy and commodities broker operating under the ICAP, PVM and Tullett Prebon brands. Active in all major commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals and soft commodities. 
• Agency Execution: serving the buy side operating under the Liquidnet and COEX Partners brands. We provide trading services for a broad range of asset classes, serving a sophisticated client base of asset managers, asset owners and hedge funds.
• Parameta Solutions: formed of two businesses - Data & Analytics (D&A) and Post Trade Solutions.  D&A is the world leader in providing of scarce, neutral OTC data.  Consequently, it is well placed to offer unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions.  Post Trade Solutions provides pure electronic services focused on resetting, compression and repo.

www.tpicap.com

Media Contact

TP ICAP

Fay Rajaratnam

Fay.Rajaratnam@tpicap.com

Business Contact

Victoria Adams, Co-Desk Head of LNG & Natural Gas

Victoria.Adams@pvm.co.uk

Alexandra Nitka, Co-Desk Head of LNG & Natural Gas

Alexandra.Nitka@pvm.co.uk

Credit Segment (TSCD - 1.28) Emerging Markets CDS Rate Card has been updated with effect from 1st March 2022.

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Government Bonds Segment (TSGB - 1.7) CEEMEA Government Bonds Rate Card has been updated with effect from 21st February 2022.

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TP ICAP, a leading global markets infrastructure and data solutions provider, is delighted to announce that its Fusion platform has won OTC trading platform of the year at the 2022 Risk Awards.

The Risk Awards are the industry's longest-running and most prestigious awards, recognising firms for performance and innovation across all OTC derivatives platforms. 

Fusion is a multi-asset liquidity platform that is driving the transition of TP ICAP’s Global Broking business from voice to electronic protocols.  The platform enables clients to smoothly access TP ICAP's liquidity pools across all products, asset classes, brands and regions.

The strategy brings together dedicated hubs for the Rates, FX, Credit and Energy asset classes, offering material scope for trading correlation opportunities.

Embracing features such as single sign-on and a common look-and-feel user interface covering all TP ICAP screens, Fusion enables clients to trade the way they want with highly customisable screens. This allows for an easier and more efficient workflow for traders active across multiple instruments or asset classes to absorb information pre-trade, at point of trade, and post-trade. 

Don McClumpha, Chief Executive Officer, TP ICAP, EMEA, said: "Fusion has the potential to modernise market infrastructure for the benefit of our clients.  Having dedicated electronic trading hubs for Rates, FX, Credit and Energy – all accessible via Fusion – offers tremendous scope for trading correlation opportunities.  This win is recognition of Fusion’s scale of potential use and the innovation demonstrated by our teams who have developed the platform.  Kudos to them, huge thanks of course to our clients for your ongoing support, and thanks too to Risk for your measured consideration." 

Read the article published on Risk.net here

About TP ICAP Group plc

TP ICAP Group plc is a leading global markets infrastructure and data solutions provider.  The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:

• Global Broking: the largest Interdealer Broker in the world operating under the ICAP, Tullett Prebon and Louis Capi1tal brands servicing clients in Rates, FX, Credit and Equities. We match buyers and sellers, facilitate price discovery, liquidity, execution and risk management.
• Energy & Commodities: the world’s leading OTC energy and commodities broker operating under the ICAP, PVM and Tullett Prebon brands. Active in all major commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals and soft commodities. 
• Agency Execution: serving the buy side operating under the Liquidnet and COEX Partners brands. We provide trading services for a broad range of asset classes, serving a sophisticated client base of asset managers, asset owners and hedge funds.
• Parameta Solutions: formed of two businesses - Data & Analytics (D&A) and Post Trade Solutions.  D&A is the world leader in providing of scarce, neutral OTC data.  Consequently, it is well placed to offer unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions.  Post Trade Solutions provides pure electronic services focused on resetting, compression and repo.

www.tpicap.com

Media Contact

TP ICAP

Fay Rajaratnam

Fay.Rajaratnam@tpicap.com

Maitland/AMO

Freddie Barber

+44 (0) 782 519 7570

fbarber@maitland.co.uk

Tullett Prebon, part of TP ICAP group, a leading provider of market infrastructure, announces that it has successfully launched its energy broking business in Brazil. The move opens the door for institutional market participants across the world to trade the country’s energy, over 80% of which is renewable[1].

Tullett Prebon is the first international brokerage company to transact an energy deal in the Brazilian market using OTC (over the counter) voice broking. Operating since October 2021, the Brazil power team has already seen strong momentum, completing multiple transactions in its first few weeks of trading, the majority of which have been derived from renewable sources.

Oliver Maarraoui, Managing Director of Latin American Energy and Commodities at TP ICAP, said: “Entering the Brazilian energy market has been an ambition of ours for some time, particularly given the focus on renewables in the country. As a global leader in commodities broking, TP ICAP is well placed to support the growth of Brazilian energy trading by increasing liquidity, transparency, and price discovery in this market.

“Operating under the Tullett Prebon brand, we have a very strong team of brokers based out of Sao Paulo, locally managed by Gonzalo Terracini. It is very encouraging to see that they have already seen a significant amount of interest from global market participants as Brazil increasingly becomes an attractive market for ESG-focused investors.”

Andrew Polydor, CEO Global Markets at TP ICAP, said: ”The early success of our Brazilian energy broking desk reflects the growing demand for access to renewable energy from global financial markets. We always listen closely to client needs and it became clear that it was the right time to have a team on the ground to service that demand.

“Green energy is fast becoming a driving force in financial markets and we’re seeing investors and traders across the world looking to increase exposure to renewable energy as a priority. In countries like Brazil we are working to put in place effective market infrastructure to help to accelerate the transition to a more sustainable future. This is another proof point in TP ICAP’s ambition to be the leading broker for the transition to a low carbon economy.”

Brazil has the second largest hydropower capacity in the world, accounting for the majority of the country’s annual power generation[2]. We also see significant potential within its wind and solar industries. The Brazilian government has launched several policies to promote renewable sources, with onshore wind and solar photovoltaic (PV) both being major focus areas[3]. The Brazilian energy market is also active in the voluntary carbon credit market and we believe that this has considerable potential to grow.

About TP ICAP Group plc

TP ICAP Group plc is a leading global markets infrastructure and data solutions provider.  The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:

• Global Broking: the largest Interdealer Broker in the world operating under the ICAP, Tullett Prebon and Louis Capital brands servicing clients in Rates, FX, Credit and Equities. We match buyers and sellers, facilitate price discovery, liquidity, execution and risk management.
• Energy & Commodities: the world’s leading OTC energy and commodities broker operating under the ICAP, PVM and Tullett Prebon brands. Active in all major commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals and soft commodities. 
• Agency Execution: serving the buy side operating under the Liquidnet and COEX Partners brands. We provide trading services for a broad range of asset classes, serving a sophisticated client base of asset managers, asset owners and hedge funds.
• Parameta Solutions: formed of two businesses - Data & Analytics (D&A) and Post Trade Solutions.  D&A is the world leader in providing of scarce, neutral OTC data.  Consequently, it is well placed to offer unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions.  Post Trade Solutions provides pure electronic services focused on resetting, compression and repo.

www.tpicap.com

[1] International Renewable Energy Agency, Brazil energy profile, 2020

[2] McKinsey & Company, How Brazil can optimize its cost of energy, 10 March 2021

[3] GlobalData, Brazil Power Market Outlook, 2021

Please note recently updated Terms of Business has been removed and the previous one reinstated. 

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Please note recently updated Terms of Business has been removed and the previous one reinstated. 

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Post: TP ICAP Markets Limited, 135 Bishopsgate, London, EC2M 3TP, United Kingdom.