ICAP plc is the world's largest voice and electronic interdealer broker with a daily average transaction volume in excess of USD1 trillion, 50% of which is electronic. The Group is active in the wholesale market for OTC derivatives, fixed income securities, money market products, foreign exchange, energy, credit and equity derivatives.

ICAP provides a specialist intermediary broking services to commercial banks and investment banks in the wholesale financial markets. An interdealer broker works in these markets to draw together liquidity and to match buyers and sellers so that deals can executed by its banking customers. Banks pay a commission when they use a broker to complete a deal.

In Asia, the Group's presence was further strengthened in 2002 following the acquisition of Nittan's interdealer broking interests in South and Eastern Asia. In Singapore, ICAP serves its customers in the wholesale financial markets through ICAP AP, complemented by specialized services in FX options and energy broking through TFS-ICAP and ICAP Energy respectively.

Worldwide, the Group has a staff strength of over 2,900 in 24 offices, including London, New York, Tokyo and Singapore.