ICAP CEO Michael Spencer said an internal probe into allegations brokers manipulated ISDAFix, the benchmark for the $379 trillion swaps market, found no evidence of wrongdoing.
ICAP is the world’s premier voice and electronic interdealer broker and provider of post trade risk and information services. The Group is active in the wholesale markets in interest rates, credit, commodities, FX, emerging markets, equities and equity derivatives.
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Traders Magazine reports that the arbitration case against three former UBS employees alleged to have stolen an algorithmic trading code has ruled in favour of the bankers.
Bloomberg reports that Banco Santander is planning to hire 200 bankers for its global wholesale banking and markets business.
ICAP plc has announced that it has appointed Andy Coyne as Chief Executive Officer, Traiana.
The Telegraph reports that Howard Lutnick, top man at broker Cantor Fitzgerald, has threatened to sue the boss of rival firm ICAP, Michael Spencer, for defamation.