Global market turbulence is good for Icap

INTERDEALER broker Icap yesterday said market volatility due to unrest in the Middle East and the crisis in Japan over the past three months had helped its business.

Fourth-quarter trading has been solid and it has grown its market share over the year to the end of March, it said. Its new euro interest rate swaps platform is now processing more than €350bn (£30bn) from more than 4,100 trades, and it expects to be “a substantial beneficiary” of new EU financial regulation.