ICAP in Ten

This section provides a ten point overview of ICAP, what we do and how we have performed.

1. Financial summary

ICAP has demonstrated that its business model is robust and has delivered strong financial performance and cash flow in challenging market conditions. Group revenue rose 23% to £1,601 million and operating profit rose 9% to £361 million.

2. Who we are

ICAP is the world’s premier voice and electronic interdealer broker and provider of post-trade services.

3. What we do

ICAP provides specialist intermediary broking services to trading professionals in the wholesale over-the-counter (OTC) markets.

4. Diversity of our business

ICAP’s businesses are distributed across more than 50 locations in 32 countries worldwide. Our business is organised across three divisions: voice broking, electronic broking and information. ICAP is active in a broad range of markets including interest rates, credit, commodities, FX equities, equity derivatives, emerging markets, information and post-trade services.

5. Our strategic goals

ICAP’s strategic goals have been clear and consistent – to be the leading global intermediary and post-trade services provider – and our aim is to have 35% share of overall market revenues, 50% of profit derived from electronic broking and to generate superior EPS growth for our investors.

6. How we measure our progress

See the key performance indicators against which ICAP management measures the development of the business.

7. How we have performed

EMEA was once again ICAP’s most profitable region with the highest operating profit margin. The region delivered a very strong performance driven primarily by interest rates, equities and commodities. Markets in the Americas remained unsettled as banks restructured and reallocated leverage and government fiscal easing continued. The Asia Pacific region performed well despite the global reduction in risk appetite.